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|Founder||Ajay Adiseshann, Founder and Managing Director|
|Headquarters||Mumbai, India, |
|Ravi Vishvanathan, Chief Financial Officer Dhruv Singh, Chief Operating Officer|
PayMate is a Business-to-Business (B2B) digital payment company headquartered in Mumbai. It was launched in mid-2006 as India's first mobile payments provider that allowed consumers to use their mobile phones to pay for online and retail purchases, make utility bill payments, purchase tickets, etc. via their bank account, credit card or a prepaid account.
Then in 2012, PayMate launched a PayPOS application, which allowed small businesses to accept credit and debit cards and process electronic transactions directly on their mobile phones at the point of sale devices (POS). The company in association with Tata Indicom and Corporation Bank launched Green Money Transfer – a person-to-person mobile money transfer facility.
The year after, in 2013, PayMate made a pivot to focus on B2B payments and announced that it had started processing in excess of $500M in annualized payment processing run rate.
In February 2017, PayMate gave up its RBI issued prepaid wallet license, discontinuing all its B2C payments activity.
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- "PayMate India surpasses $500m in annual processing run rate". moneycontrol.com. 16 July 2013.
- "Paymate is surrendering its wallet licence to the RBI". medianama.com. 24 February 2017.
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