PayMate is a leading provider in B2B payments for Enterprise and SME across supply chains. The PayMate platform provides a comprehensive digital workflow tied to payments which enable greater control and transparency along with better cash flows and an end to end reconciliation for a superior experience for Enterprise and SME in closed-loop supply chains.

PayMate works with leading Visa commercial card-issuing banks to facilitate credit for both payables and receivables across supply chains moving traditional cash, cheque and EFT to card streams with several built-in risk-mitigating benefits for banks and extended days payables for buyers.

Platform features include Procure to Pay automation, credit evaluation, discount marketplace along with APIs for integration into existing accounts/ERP for minimal friction-based deployment. It is cloud-based and accessible across all form factors.

PayMate has a presence in South Asia (India) and UAE and is actively expanding across CEMEA and APAC.

Pay vendors and taxes before their due date using commercial credit cards

• Supplier Management
• Vendor Payments
• GST Payments
• Direct Tax Payments
• Utility Bill payments
• Receivables
• Approval Workflows
• Automated Reconciliations
• Real-time reports 

Integrations with existing back-end systems that support file exchange for payment processing and reporting using commercial credit cards. 

• Seamless API Integrations with existing ERPs.
• 3-Way Document Matching of Purchase Order (PO), Goods Received Note (GRN) and Invoice.
• Digital approval of all procurement tasks reduces the time involved.
• Payments are processed in bulk or adhoc using commercial credit cards.
• Track real-time status of the entire procurement to payment tasks, thereby increasing efficiency.

An ‘Early Payment Program’ that helps large enterprises to deploy their surplus capital towards early vendor payments in exchange for a discount against each invoice. 

• ERP integrations - For a seamless flow of invoices eligible for early discounted payments into invoice discounting module.
• Real-time discount offer and negotiations - Buyers and suppliers can offer and negotiate discounts on each invoice in real-time.
• Same day payment processing/authorization - Payment processed for the approved discounted invoice using commercial credit cards.

Automated evaluation and analysis of the payments processed through PayMate used to offer working capital credit. 

• AI/ML driven - PayMate's credit engine uses artificial intelligence/machine learning models to analyze the credit worthiness of a business applicant.
• Data analysis - Analysis of the cash flows and seasonality of a business, instead of relying on traditional credit models and ratios, thus enabling even credit-rate even SMEs.
• High accuracy and security - Credit engine is fully automated with the ability to deliver analyses with high accuracy and faster turnaround times.

According to RedSeer report:

PayMate is one of the leading B2B payments and services provider in India that digitizes, automates and streamlines B2B payments in supply chains. PayMate was the largest B2B payments player and one of the fastest-growing providers of on-line, card-based payment-processing services in India, in terms of TPV processed in the nine months ended December 31, 2021 (₹464,766.45 million processed between April to December 2021) using commercial credit cards. PayMate was one of the first full-stack supply chain payments automation platforms in India for enterprises and their supply chain, as of Dec 2021. Full-stack is defined as a player who offers commercial credit cards as a payment instrument, GST, direct tax and utility payments, vendor payments (accounts payables), collections (accounts receivables), automated reconciliation, and invoice discounting (early payment discounting) and invoice financing. Download full report from REPORTS section.