Consumers will be able to pay via mobile for services available on OnMobile powered voice portals and WAP sites such as Hutch, Airtel, Idea, Reliance, Tata, Fame Cinemas, Adlabs Multiplexes and the 505 platform.
Paymate customers will be able to pay via mobile while shopping, gifting, movie ticketing, airline ticketing and making bill payments on OnMobile powered WAP sites or Voice portals. A user selects a product and proceeds to the payment menu wherein PayMate is offered as a mode of payment. The user then has to enter his PayMate PIN & complete the payment process. The user receives an SMS confirming the successful purchase of the product.
“PayMate is extremely convenient, easy to use and compatible across all mobile handsets and operators. Most merchants have difficulty in accepting remote payments since customers are apprehensive about sharing credit/ debit card details online or over the phone. This makes PayMate an ideal solution for accepting payments online, over the phone or even at a counter since customers do not have to divulge any credit or debit card details at any time.” says Ajay Adiseshann, Founder & MD, PayMate.
“OnMobile has enabled Paymate to offer its innovative and secure payment service via OnMobile IVR and WAP products to more than 100 million telecom subscribers in India. We will continue to offer more payment options for telecom subscribers” says Balachandran Unni, Head-Mobile Commerce, OnMobile.
PayMate User Manual
PayMate is currently being offered to Citibank bank credit card and banking customers and will roll out services with other leading banks shortly. To use PayMate, Citibank customers need to sign up for this service free with the bank by simply sending “PAYMATE” as an SMS to 2484. The customer will then be called back and registered for the service following which they can conveniently pay at any of PayMate’s accredited merchants via a single SMS.
On receiving this SMS, the bank will verify the user’s mobile number with the account and on confirmation will debit the account accordingly. The merchant and the customer will receive a confirmation message from the bank approving the transaction. The entire transaction takes place at the cost of a single premium SMS.
PayMate is accepted at over 2500 online portals including travel, astrology, electronics, education, jobs, NGOs, apparels, matrimony, entertainment and healthcare etc. PayMate has also announced its tie-ups with Tele-brands, Big Tree (cinema ticketing), Mumbai Gold Cabs, Planet M, CRS Health, Seijo and the Soul Dish, VSNL, Future Bazaar etc. The company is also in the process of tying up with several offline merchants such as telco’s, utilities, insurance companies, cable and broadband services, tele-shopping etc and will be announcing its tie-ups in a phased manner.
PayMate offers a secure payment solution as no credit/debit card information is ever disclosed during the transaction process. The trust model is based on the recommendations by Ernst & Young; which provides the security measures for both the bank as well as the customer.
About PayMate India Pvt. Ltd
PayMate India Private Limited (paymate.co.in) is a mobile commerce solutions company based in Mumbai. PayMate India has been spun off by Coruscant Tec, a mobile content developer and aggregator, to offer comprehensive mobile commerce solutions.
PayMate was founded in May 2006 by Ajay Adiseshann, Founder and MD, Coruscant Tec and Co-founder, Probir Roy. In a short span of time PayMate India has partnered with Citibank to offer a unique mobile payment solution.
PayMate India is funded by Silicon Valley based Kleiner Perkins Caufield & Byers and Sherpalo Ventures who have helped build some of the world’s leading brands and companies like Amazon, Google™, Sun Microsystems.
OnMobile (onmobile.com), the pioneering telecom Value Added Services (VAS) leader is a spin out of the Bangalore based Infosys Technologies (NASD: INFY) and was incorporated in 2000. OnMobile offers end-to-end, turnkey solutions including platforms, applications, content and professional services to deploy and operate high-margin, high revenue telecom Value Added Services for telecom operators, media houses and content providers. Headquartered in Bangalore, India, OnMobile has a large development centre, a research and testing lab. It has offices in Mumbai, Delhi, Singapore and Sydney. OnMobile has team strength of over 500, and draws on Infosys’s technical and delivery resources whenever and wherever required globally.