PayMate launches 1st mobile

Mobile payment company PayMate has launched India's first mobile, cashless purchase management service -- 'WayPay' for fleet operators in the country.

The system helps fleet operators across the country to manage all on-route cash less transactions from certain retail outlets, a company statement said.

The company has tied-up with fleet management solution provider Mahaventures to offer this service initially in Western India, it said.

"We analysed the issues that fleet operators faced on their daily trips and decided to create a system that would help simplify payments for them without any external hardware devices. The PayMate platform is particularly suited for applications and Mahaventures is the ideal partner for rapid
deployment (of the service) in western India," PayMate Founder-Managing Director Ajay Adiseshann said.

In the new service, transporters need to register their vehicles and drivers mobile number. The driver's mobile number will be registered against each vehicle number.The transporter would then need to set purchase limits and load required funds to a prepaid account by through net banking or cheque.

This system is not only suitable for fuel, but can be used for purchase of tires, batteries, service centre bills, the statement added.