PayMate Expands to Singapore, Australia, and Malaysia

Published 3 months ago

Mumbai-based digital business-to-business (B2B) payments company, PayMate, has announced it is expanding its services to Singapore, Australia, and Malaysia. This development is part of the company’s ongoing global growth strategy, which has seen it establish subsidiaries in the Asia Pacific (APAC) and Central and Eastern Europe, Middle East, and Africa (CEMEA) regions in less than a year.

Tailored Digital Payment Solutions

PayMate’s core aim is to offer digital payment solutions that are specifically tailored to meet the unique needs of each market it enters. Despite this localised approach, the company maintains a unified global strategy. Future expansion plans include possible entries into the markets of Vietnam, Thailand, the Philippines, Hong Kong, and New Zealand.

Innovative Financial Services

The services provided by PayMate encompass the digitisation and automation of financial processes, invoice discounting, and API-as-a-service for financial institutions. Its platform integrates seamlessly with existing systems, facilitating swift payments and efficient cash flow analysis to improve working capital management.

Substantial Growth

PayMate has reported a Total Payment Volume (TPV) of US$11.27 billion, a notable increase from previous fiscal years. The platform currently serves 390,000 customers. In Australia and South Africa, the company operates as “DuNoMo”, a wholly-owned subsidiary.

CEO’s Statement

Ajay Adiseshan, Founder & CEO of PayMate, expressed the company’s delight at introducing its innovative B2B payment solutions in the new markets of Singapore, Malaysia, and Australia. He emphasized the company’s commitment to enabling secure, frictionless B2B transactions and contributing to the flourishing fintech ecosystems in these countries.

APAC Expansion Plans

Amirreza Sawal, General Manager, APAC at PayMate, reiterated the company’s commitment to expanding its footprint in the APAC regions. The goal is to provide local businesses with the means to elevate supply chain payments, reduce expenses, and optimize working capital. He highlighted the versatility of their APIs, which offer effortless integration with third-party functionalities, fostering innovation, scalability, and a competitive edge across diverse sectors.

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