Through the PayMate app, businesses can make payments to their vendors’ bank accounts using their commercial credit cards.Additionally, the PayMate app is equipped with the enablement of making Goods and Services Tax (GST) payments along with vendor payments using commercial credit cards.
Typically, GST is payable at multiple locations across India, and many corporates and SMEs have had a decentralised system as per different regions or states. This process is streamlined for PayMate app users as they can generate challans and pay their GST payments by entering their GSTIN Number, resulting in the system automatically fetching the business-related data on the app and payments made through commercial credit cards. The PayMate app notifies its users to pay their GST before the due date via SMS and WhatsApp messages.
PayMate is also aiming to expand into other parts of Central Europe, the Middle East, and Africa (‘CEMEA’) region, in partnership with Visa. It has a relationship with Visa, pursuant to which Visa facilitates introductions of PayMate to Visa issuing financial institution partners, and PayMate will ensure that commercial credit cards processed through PayMate’s system are Visa cards for certain international territories agreed with Visa. The PayMate platform is live in the UAE and is a Visa-certified Business Payment Solution Provider (BPSP) in the region.
PayMate is a B2B payment and services providers that digitises, automates, and streamlines business-to-business payments in supply chains. The PayMate platform provides upgradation from traditional paper-based workflows to software-driven workloads with digital payment streams like digital invoicing and several complementary features.The company has a presence in South Asia (India) and UAE and is aiming to expand across CEMEA.
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