PayMate To Offer Mobile Banking Soln To Syndicate Bank Customers

PayMate, a mobile commerce company, has partnered with Syndicate Bank, a nationalised bank, to provide mobile banking solutions to its customers across 2,000 branches. This is PayMate’s first foray into the mobile banking solutions space. While PayMate has till date tied up with 22 banks and provided them with mobile payment services and applications, PayMate will now also be offering holistic mobile banking applications, which will include non-financial transactions as well.

Ajay Adiseshann, MD and founder, PayMate, says, “The high penetration of mobile phones is a definitive indication of the growth potential of m-commerce in India. With this technology, we plan to offer Syndicate Bank customers an all new banking experience whereby they can conduct their banking and non-banking transactions through their mobile phones anytime, anywhere.”

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Syndicate Bank customers will be able to download a mobile banking application on their GPRS-enabled cell phones and this application will allow them to carry out their daily banking functions like funds transfer, stop-cheque, balance enquiry, cheque book request etc. Additionally, they will also be able to use their mobile phones to pay for mobile recharge, utility bills, movie and flight tickets and other online and retail purchases at over 15,000 PayMate registered merchants across India.