PayMate – B2B Payments Automation Powered by Commercial Cards

Introduction: What is PayMate?

PayMate is a B2B payments and financial services platform based in India. It is tailored for small businesses, mid-market companies, and larger enterprises. Founded in 2006, it started with a focus on mobile payments. In 2013, the company shifted its attention to automating supply-chain payments and other B2B financial tasks. PayMate helps organizations digitize receivables and payables, streamline vendor payments, automate GST and utility payments, access working capital, and use commercial credit cards to improve cash flow.

Key Highlights at a Glance

• Trusted across India & global expansion: A leader in Indian B2B payments, processing over ₹464,000 million from April to December 2021, and expanding into Central Europe, Middle East, Africa (CEMEA) and Asia-Pacific (APAC) markets.

• Full-stack capabilities: Supports automated procure-to-pay workflows, invoice discounting, GST and tax payments, commercial cards, and working capital.

• Tech-enabled smart credit: Uses AI and machine learning to analyze payment history and cash flows, enabling credit access even for smaller enterprises.

• Multiple pricing tiers: Offers a free basic plan along with Premium and Enterprise tiers with advanced features such as invoicing, reconciliation tools, and multi-user workflows.

Key Offerings and Features

1. Payment & Collection Automation

• Bulk vendor payouts via NEFT, RTGS, IMPS, debit/credit cards, and net banking.

• Automated collections: Generate GST-compliant payment links and reminders. PayMate supports credit card-based GST and utility payments.

• Approval workflows: Maker-checker flows with multi-user roles ensure control and compliance at scale.

2. Procure‑to‑Pay Integrations

• Seamless ERP system integration enables invoice-to-payment automation.

• Features include three-way PO–GRN–invoice matching, real-time tracking, and same-day commercial card payments.

3. Invoice Discounting & Early Payment

• Businesses can use their own surplus capital to pre-pay suppliers at discounted rates.

• AI/ML-driven discounting ensures optimal savings across the vendor ecosystem.

4. AI‑Driven Credit Engine

• Evaluates businesses based on cash flow trends, payment cycles, and seasonality rather than traditional credit scores.

• Enables faster credit issuance to SMEs with minimal friction.

5. Commercial Card Payments

• Businesses can make payments to vendors, pay GST, handle utility bills, and even payroll using business credit cards.

• Improves Days Payable Outstanding (DPO) while enhancing cash flow management.

Compliance & Security

• Regulatory compliance: Adheres to Reserve Bank of India frameworks, supports tokenization, and complies with Indian data privacy laws.

• Security protocols: Industry-standard encryption, secure servers, and access control features to protect sensitive payment data.

• Governance controls: Enables maker-checker rules, payment mandates, audit trails, and vendor/KYC approval processes for secure business operations.

Integration & User Experience

• Platform access: Available via both web-based dashboards and mobile apps on Android and iOS.

• ERP integrations: Easy integration with common ERP systems through APIs or file uploads for seamless payment automation.

• Workflow automation: Configure custom business rules, receive real-time payment status updates, and set alerts for specific events.

• Customer support: Support available via dedicated email channels, covering general queries, sales inquiries, and technical assistance.

Final Take

PayMate is more than just a B2B payments processor. It is a complete financial operations platform for businesses that want to modernize payments, manage vendor networks, and free up working capital. With PayMate, companies in India and other regions can use smarter payment methods, simplify compliance, and support growth with confidence.