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PayMate forays into retail with voice and SMS based mobile payment solution

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PayMate forays into retail with voice and SMS based mobile payment solution

M-commerce solutions company, PayMate India, is now aggressively targeting offline merchant sign-ups, which include large chains to stand-alone establishments in any form of retail. SMS has been the driving platform for online and remote payments thus far, but now the company has introduced a voice-based module specifically keeping in mind the requirements of the retail industry.

To begin with, this solution will be implemented by Future Bazaar, CRS Health, Gold Cabs and Planet M in the coming weeks.

Speaking about the company’s growth plans in 2007, Ajay Adiseshann, Founder and Managing Director, PayMate, said, “We have achieved significant success in the online space and we now have the opportunity and challenge to make PayMate available on the shop floor as well. There is no doubt a genuine user benefit of added convenience and security that PayMate offers, so we hope to implement our solution at an equally rapid pace in the offline category as well. We are expanding our merchant base rapidly and are making sure we reach out to our stakeholders, both consumers and merchants, in as many ways as possible enabling ease of use.”

To make implementation simple, PayMate will offer its merchants options of several transaction interfaces depending on the facilities available at the point of sale. These include an Internet browser, any mobile handset or a landline phone.

In addition to implementing PayMate online, Future Bazaar will also use PayMate to facilitate an ‘SMS-to-buy’ platform, wherein all that customers have to do is send an SMS to buy a product instead of walking into a store or logging on to the website.

Commenting on the tie-up, Sankarson Banerjee, CEO, Future Bazaar, said, “In our business of virtual retailing, the mobile phone is a powerful device to connect with customers. PayMate is a unique solution to grow this space since customers can use their mobile phones to pay securely from anywhere without divulging their card details. This will potentially open up many new avenues for customer interaction for our business.”

Gold Cabs, which recently launched their ‘Dial-a-Cab’ service in Mumbai, will now allow passengers to pay for their tariffs via PayMate. “Convenience lies at the core of our offering and PayMate offers an ideal solution for the drivers and the customer minus the trouble of carrying cash or struggling for change. We are proud to be among the first few globally along with Japan and Thailand to implement mobile payments for taxi fares,” said Shilpa Athavale, Managing Director, Gold Cabs.

PayMate will also be shortly available on several leading websites, including travel and hospitality, consumer products, matrimony, jobs, apparels, astrology, gifts, NGOs, etc. The company is also in the process of tying up with several offline merchants such as telcos, utilities, insurance companies, cable and broadband services, tele-shopping, etc. and would be announcing its tie-ups in a phased manner.


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Prior to joining Madison PR in 2012 Chaudhary was Group President Corporate Communications at Reliance Industries Limited.