IDBI Bank Partners With PayMate For Mobile Payment Solutions

IDBI Bank has launched a strategic partnership with mobile commerce company PayMate to enable mobile payments facility for its customers.

The alliance will enable IDBI Bank customers to use PayMate’s convenient and secure mobile payment service and turn the tedious chore of paying regular utility bills into an effortless task. Additionally, customers can also use their mobile phones to pay for booking movie and flight tickets, restaurant bills, mobile recharge, online purchase and retail shopping at over 13,000 merchants in India registered with PayMate.

Yogesh Agarwal, chairman and managing director, IDBI Bank, said, “Enabling our customers with the latest convenience tools that assist in their day-to-day transactions is one of our key goals. This tie-up with PayMate is an important initiative in this direction.”

Ajay Adiseshann, MD and founder, PayMate, says, “It is our privilege to partner with IDBI Bank. We are confident that customers of IDBI Bank will find immense value in using PayMate’s mobile payment services. With more services being added constantly, IDBI Bank will be able to leverage our platform to build stickiness with its existing customers while attracting new ones.”

An IDBI Bank customer can avail of free registration for PayMate’s mobile payment service at any IDBI Bank Branch (registrations will shortly be extended on ATMs and through NetBanking). Once registered, the process links the customer’s mobile number to his/her operative bank account and a secure Mobile Banking PIN (m-PIN) is sent to the customer. A customer can then start transacting via his phone.