Payments Automation

Pay vendors and taxes before their due date using commercial credit cards

Supplier Management

Easy supplier on-boarding process

Seamless onboarding of all suppliers through bulk upload.
Automated E-KYC process.
Add supplier bank account details and eliminate the need of adding them every time payments are made.

Vendor Payments

Vendors, retailers and suppliers can be paid before the due date using commercial credit cards in bulk or adhoc

Eliminate the need for diving into cash reserves to pay vendors on time.
Use of commercial credit cards extends days payables outstanding.
Digitization of vendor payments reduce payment delays.
Eradicate the possibilities for human error.
Accelerate tedious and time-consuming cashflow management.

Success Stories

GST Payments

Make GST payments using commercial credit card across 28 states

All GST payments across 28 states made with a Single login.
Fetch all challans from the GST portal with a Single click.
Enablement of commercial credit card as a mode of payment.

Direct Tax Payments

Along with GST payments, all direct tax payments can be made on PayMate using a commercial credit card

Management of PAN/TAN information on the platform.
Select the appropriate challans for direct tax payments to be made.
Use of commercial credit card as a mode of payment.

Utility Bill payments

All recurring utility bill payments can be made using commercial credit cards on PayMate in seamless integration

Integration with Bharat Bill Pay systems for all utility bill payments.
No need to switch between platforms.
Use of commercial credit card as a mode of payment.

Receivables

Send and schedule payment collection requests via email and whatsapp

Collect payments using payment links sent directly over email and WhatsApp.
Any business that receives this link can make payment using cards, or EFT.
Reminders can be scheduled, reducing the need for manual follow-up calls.

Success Stories

Approval Workflows

Custom approval workflow can be created and edited as required

Full control to create and edit an internal approval payment process.
Faster approval process.
Provides control on payouts made by the business.
Eliminates the risk of fraud.

Automated Reconciliations

Save time, efforts and resources with automated reconciliations through API integrations with ERPs or existing systems

Automated alignment of the payouts with accounting systems.
Clear visibility into cashflows, creating a transparent environment.
Eliminates calculation or tallying mistakes and provides accurate data for insights and audits.

Real-time reports

Real-time reports for every transaction help in instant reconciliation, fraud detection, and provide clear visibility into cashflows

Instant visibility into cashflows.
Easy fraud detection.
Provides detailed transaction history that is useful in strategic planning and audits.

Procure-to-Pay

Integrations with existing back-end systems that support file exchange for payment processing and reporting using commercial credit cards

Seamless API Integrations with existing ERPs.
3-Way Document Matching of Purchase Order (PO), Goods Received Note (GRN) and Invoice.
Digital approval of all procurement tasks reduces the time involved.
Payments are processed in bulk or adhoc using commercial credit cards.
Track real-time status of the entire procurement to payment tasks, thereby increasing efficiency.

Benefits

Save time and paper in approval requests at every stage

Manual matching of PO, GRN and invoices is eliminated and reduces errors

End-to-end automation starts at the procurement stage and ends with the payment stage

Invoice Discounting Marketplace

An ‘Early Payment Program’ that helps large enterprises to deploy their surplus capital towards early vendor payments in exchange for a discount against each invoice

ERP integrations - For a seamless flow of invoices eligible for early discounted payments into invoice discounting module.
Real-time discount offer and negotiations - Buyers and suppliers can offer and negotiate discounts on each invoice in real-time.
Same day payment processing/authorization - Payment processed for the approved discounted invoice using commercial credit cards.
This is how suppliers can use PayMate’s invoice discounting.

Benefits

PayMate's Invoice Discounting engine uses Machine Learning to maximise the return on the deployed capital

Vendors receive early payments in a quick and convenient manner without any collateral or undergoing any underwriting process

Maintenance of DPO and DSP due to utilization of commercial credit cards

No disruption in existing processes or systems

Credit Engine

Automated evaluation and analysis of the payments processed through PayMate used to offer working capital credit

AI/ML driven - PayMate's credit engine uses artificial intelligence/machine learning models to analyze the credit worthiness of a business applicant.
Data analysis - Analysis of the cash flows and seasonality of a business, instead of relying on traditional credit models and ratios, thus enabling even credit-rate even SMEs.
High accuracy and security - Credit engine is fully automated with the ability to deliver analyses with high accuracy and faster turnaround times.

Benefits

Cashflow based analysis for accurate and faster limits

Credit evaluation of even new-to-credit SMEs

PayMate was one of the first full-stack supply chain payments automation platforms in India for enterprises and their supply chain, as of Dec 2021. Full-stack is defined as a player who offers commercial credit cards as a payment instrument, GST, direct tax and utility payments, vendor payments (accounts payables), collections (accounts receivables), automated reconciliation, and invoice discounting (early payment discounting) and invoice financing.