VCA Stocks

Mobile payments solutions provider, PayMate India, has raised $9 million (Rs 38.57 crore) in second-round funding.  “Mobile electronic payments are the way of the future in India. PayMate has figured out how to unleash the potential of the phone as the primary transaction terminal for the over 260 million mobile users in India,” said Nikhil Khattau, MD of Mayfield Advisors, who also join the PayMate board.  PayMate works with service providers like airlines and banks to enable transactions on mobile phones and wireless devices. Customers can buy an air ticket by sending an SMS and pay by credit card through a secure IVRS (interactive voice response system) call-back service.