PAYMATE USA
Paymate has announced that it will be embarking on the potential of the
North American mobile phone market with its mobile remittance solution.
With this, the company will be providing the primarily unbanked American
population, nearly 13% of the total population, with the ability to
transfer
and receive payments through their mobile phone network. This expansion
will be under the guidance of Paymate’s newly appointed Vice President
of Americas, Mr. Dhruv Singh, who will lead the growth initiatives.
Remittance across national borders is expected to reach $300B this year
around the world, with residents of North America initiating the largest
volume. Meanwhile India, Mexico, and the Philippines are the Top 3
destination countries for these remittances. PayMate is accepted by over
3000 merchants in India for various payment methods and has been
awarded “Asia’s Top 100 start-ups” two years in a row by Red Herring.