PayMate India has announced the closing a $9 million second round financing led by Mayfield Fund with participation from existing investors Kleiner Perkins Caufield & Buyers and Sherpalo Ventures.   » Continue Reading

MSN India reports on mobile wallets and payments in India saying that "current payment players in India are mChek, Obopay and PayMate." The article notes that the Reserve Bank of India is currently formulating the regulatory guidelines for mobile payments with the final draft expected by June 2008.

India's PayMate has announced it is expanding the reach of GiftMate, its mobile gift voucher program, 'to non-resident Indians in North America who can now send GiftMate mobile gift vouchers to their friends and family, anywhere in India.'   » Continue Reading

Infonox has announced a partnership with PayMate, a mobile-commerce solutions provider in India, to develop a suite of mobile payment products for the US market. According to the company, "the existing businesses on Infonox platform, which include major merchant acquirers, financial service aggregators and banks, will have the instant ability to offer their branded transaction services on cell phones."   » Continue Reading

Express Computer reports on PayMate India's plan to target "offline merchant sign-ups which include large chains to stand-alone retail establishments. SMS has been the platform of choice for online and remote payments so far but the company has now introduced a voice-based module keeping in mind the unique requirements of the retail industry."

PayMate India has announced it is "now aggressively targeting offline merchant sign-ups which include large chains to stand-alone establishments in any form of retail. SMS has been the driving platform for online and remote payments thus far but the company has now introduced a voice based module specifically keeping in mind the unique requirements of the retail industry."

Priyanka Joshi writes from New Delhi for the Business Standard about PayMate's new mobile payment service. Joshi quotes PayMate's founder and managing director Ajay Adieseshann who says he "wants 100 million mobile subscribers, but is aware that critical mass must first be acquired. We are willing to wait - and remain committed to our goal of being the Visa/Electron of the mobile payment world."

NewMedia@Work reports on PayMate India's collaboration with with Citibank and Euronet to launch a mobile payment solution based on premium SMS.   » Continue Reading

Moneycontrol.com reports from India on Paymate India's plans to offer its mobile payment service at top restaurants in Mumbai. "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," said Mr Ajay Adiseshan, Founder and Managing Director, Paymate India. He says the company will target coffee bars next.

CRN India reports that PayMate India has launched an exclusive mobile payment solution in coordination with Citibank and Euronet. "With this service, our customers can now conveniently make routine purchases using their mobile phone itself," said Vijay Ramchandran, country marketing director and head, Internet Banking, Citibank India.

Matt Marshall writes for the San Jose Mercury News' SiliconBeat blog about PayMate, an India-based startup focusing on enabling mobile payments that has recently received venture financing. According to Marshall, "the investment continues the partnership formed by Google founding investor Ram Shriram and one of Silicon Valley's best-known venture firms, Kleiner Perkins."