Visa Selects PayMate To Manage Supply Chain

by CXOtoday News Desk    Jan 25, 2018

visa

PayMate, an early pioneer in India’s payment industry and a leading player in electronic Business-to-Business (B2B) payments space, announced that its innovative, cloud based, payments platform has been selected by Visa to help transform the way Visa corporate customers manage their financial supply chain.

PayMate has been helping large Enterprises and SMEs transition from traditionally slow and costly forms of payments like cash and checks to real-time and efficient digital payments. Its technology and services help business customers to automate and seamlessly manage vendor payments (AP), customer payments (AR), invoicing, and cash flow.

Visa’s corporate customers will now be able to benefit from this partnership leveraging PayMate’s proprietary payment platform to achieve transparency and efficiency while also being able to access instant credit for their working capital needs,” said Ajay Adiseshann, co-founder and Managing Director, PayMate.

“We are extremely pleased to partner with a global leader in the financial credit market, and this partnership is a testimony to our strong product offering and potential to help businesses of all sizes unlock hidden value through seamless automation and transformation of their financial supply chain.

We strongly believe, that with Visa as our strategic partner, we can help Indian businesses achieve operational efficiency and enhance cost savings faster than ever before. PayMate solutions are also geared to help these businesses gain real-time easy access to working capital credit that can help them grow their business more easily than ever before, while mitigating risk for the credit providers, making it a win-win situation,” he added.

This partnership follows closely with the company’s recent announcement of processing in excess of $2B in B2B e-payments on an annualized basis. PayMate will serve millions of customers in India in the SME and enterprises spaces with this partnership. The partnership will help PayMate expand its footprint across multiple regions and cities in India over the next 2 years.

“In today’s connected world, business transactions need to be as seamless and integrated as possible. The PayMate platform provides added convenience for our B2B consumers to automate their business payments, providing the seamless experience that consumers are looking for. As the Indian market transitions into a digital economy, solutions such as these will play a key role in helping businesses embrace transition and embrace the world of digital commerce,” says Chavi Jafa, Head, Business Solutions, India and South Asia.