PayMate India Limited (PayMate), a business-to-business (B2B) Payments services provider, has announced that the company will be showcasing its B2B embedded payment capabilities through an application programming interface (APIs) at the upcoming Global Fintech Festival held in Mumbai.  

The  APIs can be adopted by those fintechs and financial institutions (FIs) who wish to include a payment leg to their existing solutions, thereby expanding the functionality and offering a comprehensive solution to their customers.  

Its APIs are an extension of its existing form factors and have been introduced to foster collaboration opportunities in the financial technology ecosystem. And will be available across the company’s and its subsidiaries' operational markets in India, UAE, Oman, Singapore, Sri Lanka, Kingdom of Saudi Arabia, Malaysia, Australia, and South Africa. 

Financial Institutions including Banks of all sizes can utilise the PayMate platform across all form factors including APIs to equip their SME and corporate customers with digital B2B payment automation solutions.

Speaking on the launch of PayMate’s API-as-a-Service, Ajay Adiseshan, CEO and founder of PayMate, said, “With our robust API stack, we plan to widen our customer base further to include corporates, SMEs, banks, and FIs as we seek to enhance the accessibility and reach of our solutions and foster an interconnected financial ecosystem. By seamlessly embedding PayMate APIs, fintechs and FIs can circumvent the complexities, expenses, and time investments associated with building a payment leg, allowing them to streamline operations and redirect resources for strategic growth initiatives.” 

The services of the platform are tailored for large corporates, SMEs, fintech companies, and financial Institutions.  Founded in 2006 the platform works with banks to offer credit services to SMEs and other enterprises. 

IPO-bound B2B payment solution provider has reported a jump in operating revenue by 3.4X to Rs 1,208 crore in FY22 from Rs 348 crore in FY21.