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PayMate enters UAE with new partnerships

Thursday 26 August 2021 11:48 CET | News

PayMate, an Indian-based payment solution provider, has partnered with Visa and Citi to automate the way businesses pay their suppliers in the UAE.

 

 

PayMate is set to change the way in which businesses in the UAE manage their Accounts Payables and Accounts Receivables (AP & AR), in partnership with financial institutions Visa and Citi. These collaborations will enable businesses with end-to-end payments automation, saving their time, costs and resources.

As a part of an extension of the existing collaboration with Visa, PayMate’s platform will change the way UAE corporates pay their suppliers with Citibank-issued Visa corporate cards. Benefits to the buyers include extended Days Payable Outstanding (DPO) while simultaneously enabling early supplier payments. The PayMate solution will enable settlement of corporate card payments directly into suppliers’ bank accounts. All payments made and received will be auto reconciled on the PayMate platform in real-time with detailed reports.

Together, all three partners will be driving payables automation and processing significant volumes, between large enterprise corporations, SMBs and government institutions – and their suppliers.


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Keywords: B2B payments, Visa, Citi, partnership, corporate card
Categories: Payments & Commerce | Cards
Countries: United Arab Emirates
This article is part of category

Payments & Commerce