Dubai, UAE: Mastercard has entered a multi-year partnership with leading B2B payments company, PayMate to enable fast, secure and convenient digital business-to-business (B2B) payments for organizations across several markets in Eastern Europe, Middle East and Africa (EEMEA).

The B2B payments market is, projected to exceed $3 trillion[i] in revenue by 2027, demonstrating significant growth potential. The partnership between the organizations will address challenges that businesses across the EEMEA markets face such as limited visibility, manual invoice processes, and restricted payment options that create tight liquidity and operational inefficiencies.

“At Mastercard, we are committed to empowering businesses of all sizes to reap the full benefits of the digital economy. We are confident that our new long-term partnership with PayMate will mark a significant step in simplifying payables and receivables processes for businesses of all sizes. said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

Ajay Adiseshann, Founder, MD & CEO of PayMate said, “We are delighted to partner with Mastercard across EEMEA region for B2B payables and receivables to meet the growing demand for automation and digitization in the procurement-to-payment cycle. By leveraging Mastercard’s strong network and PayMate’s comprehensive payments platform, we will enable buyers to pay earlier and sellers to receive payments faster across small, medium and large businesses, thereby accelerating the B2B payment ecosystem.”

Through the PayMate platform, businesses can use their Mastercard commercial cards to carry out a variety of transactions including utility payments, collections and payments to suppliers - including those that do not accept cards - while benefiting from up to 55 days of interest-free credit. This results in reduced Days Sales Outstanding (DSO), improved cash flows, and optimized credit limit utilization, leading to greater financial efficiency.

About Mastercard 

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions safe, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

Mastercard Communications contact: Halima Islam, halima.islam@mastercard.com

About PayMate:

PayMate is a leading digital B2B payments company that empowers businesses of all sizes to enhance financial efficiency and streamline B2B payments. The platform simplifies and digitizes B2B payment processes, maximizes working capital, and ensures timely supplier payments through commercial cards. DuNoMo, a 100% owned subsidiary of PayMate India Ltd., offers these solutions to the South African and Australian markets.

PayMate offers a business payments platform that provides businesses with solutions, ranging from Accounts Payable, Accounts Receivable, Invoice Discounting, Cross-Border Payments, Tax, Bill Payments, Rental Collections, and Embedded Finance.  In FY24, PayMate processed USD 10.5 billion in transactions, serving over 500,000 customers worldwide. With a strong presence in India, CEMEA, and APAC region. PayMate is the trusted partner for businesses seeking to streamline payment processes.

For more information, visit paymate.ae  & dunomo.co.za  Also follow us on LinkedIn or write to:
Roopali Kagalwala
Vice President Marketing
marketing@paymate.co.in

[i] [i] McKinsey report