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PayMate ventures into corporate gift system for employees

PayMate ventures into corporate gift system for employees

Author | Pallavi Goorha | Thursday, Apr 10,2008 8:44 AM

PayMate ventures into corporate gift system for employees

PayMate, a mobile commerce solutions firm, is expanding the reach of its GiftMate, a revolutionary mobile gift voucher that has already gained market acceptance in India. The company is now venturing into international gifting and corporate gift system for employees for which it is looking to tying up with banks and increase to the merchant ecosystem.

Probir Roy, Co-Founder & Director, PayMate, said, “This year in April, we have started a gift scheme for employees to reward key performance. We have just ventured into international gifting as well, wherein one can send gifts to loved ones during festivals from the US to India and can use the mobile as a medium of communication and authentication.”

NRIs in North America can now send GiftMate mobile gift vouchers to their friends and family anywhere in India. GiftMate vouchers can be redeemed at over 3,000 online merchants in India that accept PayMate as a checkout option.

GiftMate is a virtual gift voucher that resides on ones mobile phone. To send a GiftMate voucher, all one needs to do is visit the website, select from four pre-set voucher amounts, enter the recipient’s email and mobile number, and complete the payment process using a credit card. The recipient in India receives an email and an SMS notification confirming the amount of the GiftMate voucher they have received, along with instructions on how to use GiftMate and their personal four-digit PayMate PIN that they would need to use the gift voucher. Thereafter, the voucher can be redeemed for millions of products, including movie tickets, flight tickets, books, CDs, apparel, accessories, etc., across 3,000 online stores.

“Paymate is looking at tying up with banks and increase our merchant ecosystem. We will increase the number of banks and merchants both online and offline. We are looking to roll out products relating to utility and bills. We are expanding the base of travel mate and movie mate,” Roy said.

He added, “We don’t directly have any competition from any company, but there are several players in the mobile e-commerce space.”

Tags: e4m

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