Indian mobile payment company PayMate has ventured into the US market. The company has tied up with Infonox, a US-based company that delivers financial services to kiosks, ATMs and other delivery channels. PayMate will help Infonox develop a suite of mobile payment products for the US market. So far, Infonox had targeted ATMs, hybrid kiosks, PC workstations and POS terminals as the end-points for delivering branded financial services. PayMate tie-up will add a mobile channel to its platform.
“There are at least 10 million consumers who have touched our platform to access financial services in the last 3 months—and we estimate that all of them had cell phones,” said Safwan Shah, President of Infonox, adding the PayMate tie-up can help them offer mobile transaction processing capability in the US.