Indian m-payment service PayMate enters near countries

To move further into the international market PayMate, a leading mobile payments company based in India entered into partnership with Bank of Ceylon (BOC) from Srilanka, Everest Bank from Nepal and the largest card issuer and acquirer from Middle East which is not specified. The cooperation will enable remittances and retail payments via mobile phones.

The alliance will allow PayMate to extend its mobile payment platform to neighboring countries. To get access to the service customers should register for them through their bank network. After successful registration a customer receives a 4 digit PIN to use it for transactions authentication on a mobile device whether it is retail payments or remittances.

“PayMate sees exciting opportunities in neighbouring countries which have similar demographics to India and can be treated as microcosms. Our experiences and learnings in India can be applied with greater effect and therefore results,” says Ajay Adiseshann, MD and Founder, PayMate.