PayMate is a Mumbai based wireless transactions platform provider. PayMate is a spin-off from Coruscant Tec, a sister concern with a focus on wireless content. PayMate has created a viable ecosystem to enable wireless transactions connecting banks, switches, merchants and customers using a simple, secure and seamless technology.

Paymate was one of the first players to introduce ‘SMS-to-buy’, the kind of SMS-based payment platform to retail customers for which it tied up with retail players like Future Bazaar, Gold Cabs and Planet M sometime back.

PayMate is currently accepted by over 3000 merchants in India, and the plan is to replicate its success in the USA. Hiring Dhruv Singh as VP of Americas, the goal is to grow PayMate in un-banked consumer markets, particularly in the US. Singh previously worked as the Director of Worldwide Business Development at AMD, and was at ATI Technologies prior to his position at AMD.

Kingfisher Airlines partners with PayMate to launch FlyBuySms, the first of its kind sms based mobile flight ticketing service. To buy the ticket PayMate users can the authorize payment via SMS with their PayMate PIN.

ING Vyasa Life Insurance has tied up with Paymate India to provide the first of its kind premium payment service through an SMS. The company feels this mode of payment will help reach out to more customers.

PayMate India is funded by Silicon Valley based Kleiner Perkins Caufield & Byers and Sherpalo Ventures who have helped build some of the world’s leading brands and companies like Google, Amazon, AOL, Netscape Sun Microsystems etc.