| Type | Private |
|---|---|
| Industry | Mobile commerce |
| Founded | May 2006 |
| Headquarters | Mumbai, India |
| Key people | Ajay Adiseshann, Founder and CEO[1][2] |
| Products | Payments |
| Website | Official Website |
PayMate is a mobile commerce company that has built the largest mobile payments network in India based in Mumbai,.[3] PayMate enables people to transact and make payments from anywhere with their mobile phone. The possible transactions PayMate allows include buying flight, train and movie tickets,online and retail shopping[4] purchasing life insurance, and everyday transactions like shopping or dining out.[5]
Founded in May 2006, PayMate has built a payments network in India with over 3000 online[6] and 12000 offline merchant partners, including Futurebazaar, Indiaplaza, Indiatimes, Autsun, Rediff, and Sify. PayMate's has over 30 bank partners including ABN Amro,[7] Canara Bank, Corporation Bank, HDFC, and Standard Chartered. The PayMate service works on all phone operators in India.[8]
PayMate has also started expanding internationally. In 2008, PayMate expanded to Sri Lanka by partnering with the Bank of Ceylon. PayMate is also present in Nepal, partnered with a number of banks here.
PayMate was selected by Red Herring as being among Asia’s Top 100 start-ups two years in succession.
PayMate is PCI DSS compliant, adhering to the highest standards of security as outlined by Visa, Amex and MasterCard.[9]
PayMate India is funded by Silicon Valley-based venture capital companies Kleiner Perkins Caufield & Byers, the Mayfield Fund, and Sherpalo Ventures.
