PayMate India Pvt. Ltd., a mobile commerce solutions company, has partnered with Citibank and Euronet to launch PayMate, an exclusive mobile payment solution.
To use PayMate, Citibank customers need to sign up for this service with the bank by simply sending "PayMate" as an SMS to 2484. Customers will then be called back and registered for the service following which they can conveniently shop at Rediff, Naukri, Cleartrip, Jeevansaathi and 99 Acres for their products. Once the product has been selected, the user would send a single SMS with pin (provided by the bank) confirming the transaction.
On receiving this SMS, the bank will verify the user's mobile number with the account and on confirmation will debit the account accordingly. The merchant and the customer will receive a confirmation message from the bank approving the transaction. The entire transaction takes place at the cost of a single premium SMS.
Read more here.
PayMate Teams with Citibank Mobile Payment Solution
By: Sharon Khare
| Jul 24, 2006
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