DirecPay, an India-based online payment processor, has signed a deal with Mumbai-based PayMate India Pvt. Ltd. designed to enable more consumers to use their mobile phones for payments.
The deal calls for DirecPay, owned by India's The Times Group, to supply its merchants with PayMate's mobile payments service, a spokesperson for PayMate tells CardLine Global.
PayMate provides customers with four-digit PINs. When making payments, a consumer gives his mobile number to a merchant, who then enters the number at his register. Payment India sends a text message to the consumer requesting his PIN, which the consumer enters to authorize the payment.
"The deal will enable PayMate's customers to access an additional network of about 200 merchants," the spokesperson says. "PayMate has around 1 million subscribers and over 15,000 merchants in its network."