PayMate India Surpasses $2B in Annual GPV
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PayMate India is transforming the way businesses pay and get paid. As India’s leader in Business-to-Business (B2B) electronic payment processing solutions, it is experiencing significant growth in its business. With the introduction of new services and an expansion into new verticals, PayMate is now processing in excess of $2B in annualized Gross Processing Volume (GPV).
With over 13000 registered businesses on its platform, PayMate is leading the way in providing simple, safe, and efficient way for businesses to automate accounts payables and receivables, along with making real-time payments to vendors, and to easily access working capital financing. These cloud-based services are used by both large enterprises and SMEs.
“We are completely focused on making business payments more efficient and seamless for our customers,” said Mr. Ajay Adiseshann, Founder and Chief Executive Officer of PayMate. “Achieving $2B in GPV is a significant milestone for us, and a testament to the faith our business customers put in PayMate, our technology, and services”.
In November 2016, Indian government launched a major initiative to discourage cash based transactions and encourage the move to digital payments. Since this move, there has been an increase in usage of digital payments by consumers and businesses in India. PayMate’s announcement today is further evidence of the growing adoption of digital payments by corporate clients in India.