PayMate

PayMate

PayMate is a mobile commerce company that has built the largest mobile payments network in India, one of the fastest growing mobile payments markets in the world, in a short period of time (2006- to 2008 (Sept). 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 [ [http://www.paymate.co.in/web/PressReleaseArchieve/My%20Mobile%20-%20August%20Issue.pdf "Pay by Phone"] , "My Mobile", 17 August 2007] purchasing life insurance, and everyday transactions like shopping or dining out. [ [http://www.paymate.co.in/web/PressReleaseArchieve/National%20Herald%20-%2008.08.2007.pdf "Corp Bank, PayMate in tieup"] "National Herald", 8 August 2007]

Founded in May 2006, PayMate has built a payments network in India with over 3000 online and 12000 offline merchant partners, including Futurebazaar, Indiaplaza, Indiatimes, Rediff, and Sify. PayMate's has 12 bank partners including ABN Amro, Canara Bank, Corporation Bank, HDFC, and Standard Chartered. The PayMate service works with all major phone operators in India.

PayMate has also started expanding internationally. The Indian immigrant community living in North America can now send GiftMate gift-vouchers to their friends and family in India. These vouchers reside on the mobile phone and can be redeemed anywhere PayMate is accepted. In 2008, PayMate expanded to Sri Lanka by partnering with the Bank of Ceylon.

PayMate is the only Indian company to have been 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. [ [http://www.paymate.co.in/web/MumbaiMirror.gif"Pay with a Click"] . "Mumbai Mirror",4 May 2008]

PayMate India is funded by Silicon Valley-based venture capital companies Kleiner Perkins Caufield & Byers, the Mayfield Fund, and Sherpalo Ventures.

Sources

* [http://economictimes.indiatimes.com/News/News_By_Industry/Banking_Finance_/ABN_Amro_PayMate_tie_up_for_mobile_payments/articleshow/3061097.cms "ABN Amro, PayMate tie up for mobile payments"] , "Economic Times", 22 May 2008
* [http://economictimes.indiatimes.com/News/News_By_Industry/Telecom/Tata_Indicom-PayMate_to_offer_flight_ticket_booking_on_mobile_/rssarticleshow/2903157.cms "Tata Indicom-PayMate to offer flight ticket booking on mobile"] , "Economic Times", 27 March 2008
* [http://www.paymentsnews.com/2008/06/indias-paymate.html "India's PayMate Closes $9 Million Second Round Financing"] , "Payments News", 10 June 2008
* [http://economictimes.indiatimes.com/News/News_By_Industry/Banking_Finance_/Banking/Cosmos_Bank_partners_with_PayMate_for_mobile_payment_solutions/articleshow/2725765.cms "Cosmos Bank partners with PayMate for mobile payment solutions"] , "Economic Times", 23 January 2008
* [http://www.business-standard.com/india/storypage.php?tp=on&autono=39693 "PayMate raises $9 million in second-round funding"] , "Business Standard", 10 June 2008
* [http://press-releases.techwhack.com/21846-mygiftmate "SMS your way into people's hearts"] , "Tech Whack", 9 July 2008
* [http://economictimes.indiatimes.com/News/News_By_Industry/Telecom/Venture_capitalists_invest_9_mN_in_PayMate/articleshow/3118364.cms "Venture capitalists invest $9 mN in PayMate"] , "Economic Times", 11 June 2008
* [http://www.siliconindia.com/magazine/articledesc.php?articleid=UTEF788862188 "MyGiftMate: Gift the SMS Way"] , "SiliconIndia", August 2008
* [http://www.indoamerican-news.com/IndoAmerican/061308/061308B-WEB.pdf "PayMate Launches GiftMate - A Revolutionary New Mobile Gift Voucher"] , "Indo-American News", 13 June 2008
* [http://www.indoamerican-news.com/IndoAmerican/062008/062008B-WEB.pdf "PayMate Raises US $9 Million from Mayfield Fund, Kleiner Perkins Caufield & Byers and Sherpalo Ventures"] ,"Indo-American News", 20 June 2008
* [http://www.podtech.net/home/2904/paymate-founder-ajay-adiseshann-on-e-commerce-via-sms "PayMate Founder Ajay Adiseshann on E-Commerce via SMS"] , "Pod Tech", 2 May 2007
* [http://www.paymate.co.in/web/PressReleaseArchieve/My%20Mobile%20-%20July%20issue.pdf "A Ticket to Fly Courtesty SMS"] , "My Mobile", 19 July 2007

External links

* [http://paymate.co.in/ PayMate website]
* [http://www.mygiftmate.com GiftMate website]


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