Paymate, a leading mobile commerce company, is in talks with Indian Railways to implement a system for booking tickets through SMS
The Reserve Bank of India (RBI), on Thursday issued orders restraining commercial transactions routed through intermediaries by a card network. The central bank, without naming the card network, said the intermediary with an arrangement with the network, did not have the authorisation to function under the Payment and Settlement Systems (PSS) Act. This led the regulator to suspend the arrangement till further notice.
'The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.'
PayMate is here with a mobile payment solution, which offers convenience and flexibility of making payments by simply sending an SMS.
Having graduated from the days when his Windows machine gave up mid-presentation, Ajay Adiseshann, managing director and founder, PayMate, has found true love in Apple iPod and iPhone.
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
