PayMate, India's mobile commerce company has tied up with the UAE-based private bank Mashreq to launch mobile payment services in UAE.
The joint venture would include services such as paying for over-the-counter shopping, utility bills, online purchases via mobile as well as mobile applications enabling purchase of movie and flight tickets. The service would be available for the 3.5 million credit card users in the UAE as well as half a million Mashreq Bank account holders.
The customers can punch their card details on the mobile application or simply enter the PayMate PIN for making any mobile transaction. A 4-digit PIN will authorise each payment for ensuring a complete transaction under control and security.
In order to avail free mobile payment service, the customers would have to register once to link the Mashreq account to their mobile number and thereafter they can transact at accredited merchants. For the transactions, the amount will be charged directly to the customer's credit card or bank account (in the case of PayMate registered users).
