PayMate furthers expansion into CEMEA and APAC regions

PayMate, a digital business-to-business (B2B) payments and services provider announced its expansion into other countries within the Central Europe, Middle East, Africa (CEMEA) and Asia Pacific (APAC) regions. This follows its successful operations in India and the UAE. The firm is keen on expanding its reach in the vast $68 trillion B2B payments market.

PayMate’s expansion

With regard to the expansion, PayMate’s CEO, Ajay Adiseshan stated,

“At PayMate, our mission is to create and offer more avenues for using commercial credit cards so that the collateral-free credit on them can be utilized in an effective manner. This helps corporates of all sizes to pay their suppliers and resolve cashflow challenges. Our existing customers in India and UAE are already using our platform very effectively and with the success in these two geographies, we are geared up to extend our solutions to businesses in more countries in CEMEA and APAC. The global expansion is part of our mission to consolidate our position as a global leader in B2B payments.”

PayMate’s decision to expand in other nations within CEMEA and APAC comes about six months after announcing its foray into Sri Lanka, Singapore, and Saudi Arabia. It has now incorporated and registered its entity in an additional four markets namely; South Africa, Malaysia, Australia, and Oman. In South Africa and Australia, it has incorporated as a wholly owned subsidiary of PayMate India under the trade name DuNoMo.

According to PayMate’s estimation, the CEMEA region accounted for about $10 trillion of the $120 trillion worth of global commercial payments colume reported in 2021. At the same time, the APAC area accounted for $58 trillion.

As highlighted in the press release, expansion in these geographical regions will have PayMate avail B2B payment automation solutions to SMBs (small and medium-sized businesses) and large corporates. This will allow the customers to make accounts payables like bill, statutory, and supplier payments via bank-issued corporate credit cards.