B2B Payments Firm PayMate Expands Reach to Singapore, Australia, and Malaysiaby Fintech News Singapore November 20, 2023
PayMate, a Mumbai-based digital business-to-business (B2B) payments company, announced its expansion into Singapore, Australia, and Malaysia.
Within less than a year, PayMate has established subsidiaries in the Asia Pacific (APAC) and Central and Eastern Europe, Middle East, and Africa (CEMEA) regions to enhance its glbal footprint.
The company aims to provide digital payment solutions tailored to the specific needs of each market while maintaining a unified global strategy.
Looking ahead, PayMate is exploring potential expansion opportunities in Vietnam, Thailand, the Philippines, Hong Kong, and New Zealand.
PayMate offers solutions that include digitisation and automation of financial processes, invoice discounting, and API-as-a-service for financial institutions.
The company’s platform offers seamless integration with existing systems and facilitates expedited payments and efficient cash flow analysis, improving working capital management.
PayMate reported a Total Payment Volume (TPV) of US$11.27 billion, marking a substantial growth from the previous fiscal years. The PayMate platform has 390,000 customers to date.
In Australia and South Africa, PayMate operates under the name “DuNoMo” as a wholly-owned subsidiary.
Ajay Adiseshan, Founder & CEO, PayMate said,
“We are delighted to introduce PayMate’s innovative B2B payment solutions in Singapore, Malaysia, and Australia. Our rapid expansion into these countries highlights our commitment to enabling frictionless and highly secure B2B transactions for enterprises.
We look forward to contributing to the thriving fintech ecosystems in these markets and to collaborating with local partners to drive the digital transformation of B2B payments.”
Amirreza Sawal, General Manager, APAC, PayMate added,
“PayMate is committed to expanding its footprint in the APAC regions, delivering local businesses with the means to elevate supply chain payments, minimise expenses, and optimise working capital.
Our versatile APIs offer effortless integration with third-party functionalities, fostering innovation, scalability, and a competitive advantage. These B2B Payments APIs transcend industry boundaries, serving as an adaptable solution across diverse sectors.”