Mumbai: PayMate, a digital B2B payments and services provider has expanded its footprint across more regions in Central Europe, Middle East, Africa (CEMEA), and Asia Pacific (APAC), in addition to India and UAE.
The move comes six months after PayMate announced its entry into Singapore, Sri Lanka and Saudi Arabia. PayMate has incorporated and registered its entity in four more markets – Oman, South Africa, Malaysia and Australia. In Australia and South Africa, the company has incorporated under the trade name DuNoMo as a wholly-owned subsidiary of PayMate India Ltd.
PayMate will offer its B2B payment automation solutions to small and medium-sized (SMBs) as well as large corporate customers. It will enable them to use their bank-issued corporate credit cards towards their accounts payables (AP) including supplier, bill and statutory payments. This will help them to make better utilization of their working capital for strategic business growth.
The PayMate platform will further enable corporates with configurable approval workflows to give full control and visibility into cashflows with detailed reports, reconciliation and APIs for ERP integration with existing legacy systems.
“Our existing customers in India and UAE are already using our platform very effectively and with the success in these two geographies, we are now geared up to extend our solutions to businesses in more countries in CEMEA and APAC. The global expansion is part of our mission to consolidate our position as a global leader in B2B payments,” said Ajay Adiseshan, Founder and CEO of PayMate.
“In 2021, the global commercial payments volume was estimated at USD 120 trillion, with CEMEA contributing approximately USD 10 trillion, and APAC estimated at USD 58 trillion,” said Rakesh Khanna, Chief Commercial Officer, PayMate.
“Therefore, in line with our strategy to capitalize on these opportunities and continue driving the PayMate B2B payment solutions in markets that are booming, we have incorporated in Malaysia, Australia, South Africa, and Oman,” added Khanna.