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CYBERMEDIA NEWS
PayMate India, a mobile commerce solutions company, has collaborated with
Citibank and Euronet to launch PayMate, mobile payment solution. PayMate offers
an easy, efficient and secure method of payment and is being used by Citibank
for its customers. To use PayMate, Citibank customers need to sign up for this
service with the bank by simply sending “PayMate” as an SMS to 2484. The
customer will be called back and registered for the service following which they
can conveniently shop at Rediff, Naukri, Cleartrip, Jeevansaathi and 99 acres
for their products. PayMate does not require any additional software or mobile
SIM upgrade to process transactions. PayMate offers a secure payment solution as
no credit/debit card information is ever disclosed during the transaction
process. The model is based on the recommendations by Ernst & Young; which
provides the security measures for both the bank as well as the customer. Ajay
Adiseshann, Founder and MD, PayMate, said, “PayMate is a robust and convenient
m-commerce solution, which will provide benefits to all members of the
ecosystem, ranging from the operator, to the service provider all the way to the
end consumer.”
“With increasing penetration of mobile phones, mobile commerce is set for
tremendous growth over the coming years. The key elements for success are speed
of transactions and security, said, Vijay Ramchandran, Country Marketing
Director and Head Internet Banking, Citibank India. Page(s) 1
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