Digital payment company PayMate India has announced that it's processing more than $500M in annual payment processing run rate. PayMate offers services for consumers to make payments and transfers, for businesses to accept payments and make B2B payments. The company claims that its B2B e-payment business has been working strong for them. After launching a slew of products and partnering with number of services in 2012, PayMate went silent for the last six months. Speaking with MediaNama, PayMate Founder and Managing Director, Ajay Adiseshann, informed us that PayMate will be launching new services that address e-commerce and home delivery in coming months. It's currently not clear how PayMate will be addressing these segments, however, we suppose it plans to launch a mPOS device that will accept debit cards as well. In May 2012, PayMate has launched a PayPOS mobile application, which allows small businesses to accept credit and debit cards and process electronic transactions directly on their mobile phones at the point of sale (POS). The application has no setup fee, rentals, variable fees or minimum transaction threshold. The problem with such solution is that it is essentially using an online payment gateway for offline transactions, and it also involves an additional step for the customer- of entering the card details including the card number, CVV code and the 3D secure Pin or an OTP, which would make it a little cumbersome compared to swipe and pay terminal solutions. Also, some customers could be finicky about paper receipts. Why E-commerce and Home Delivery Segment? It appears that…
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