PayMate To Roll Out SMS Payment With Restaurants !

Paymate is a revolutionary mobile payment solution which offers simplicity, convenience and flexibility for making payments using your mobile phone. Paymate can be used in conjunction with your credit card or debit card account with any of the participating banks and merchants.

The service is expected to be launched in the next one month or so. “We will begin with high-profile restaurants and hip and trendy joints where the customer base is more inclined to take up paying using mobiles,” Ajay Adiseshann it’s CEO.

Paymate received $5 million in venture funding from two Silicon Vallye-based Venture Capital firms: Kleiner Perkins Caufield and Byers and Sherpalo Ventures. The company is founded by Ajay Adiseshann and Probir Roy. Ajay belongs to the family that owns the Real Estate company Parsn Group in Madras/Chennai.