PayMate launches Business Payments app in Malaysia to enable better financial management for SMEs

Kuala Lumpur, Malaysia – PayMate, a B2B payments platform, has launched its Business Payments app in Malaysia to encourage better financial management and business growth for small and medium-sized enterprises (SMEs) in the country.

The app provides SMEs with an easy-to-use platform for their B2B payments with suppliers, helping them navigate challenges. SMEs are often hounded by issues such as delayed payments and limited access to affordable credit, which leads to disruptions.

Through the PayMate Business Payments App, business owners can handle payments using commercial and retail credit cards efficiently. Additionally, the app offers up to 55 days of interest-free credit on cards.

While providing efficiency and flexibility in handling payments, the app also provides security in transactions through a PCI DSS-certified platform. It ensures that business owners can drive business growth and financial stability.

The launch is part of PayMate’s collaboration with Selangor Information Technology & Digital Economy Corporation (SIDEC), a subsidiary of Invest Selangor Berhad. The partnership aims to contribute to SME development in Malaysia. Through the app, PayMate helps boost SIDEC’s efforts to improve SME financial management while driving local economic growth.

Rakesh Khanna, chief commercial officer at PayMate, commented, “We are proud to launch our new business payments app in Malaysia, which is thoughtfully designed to meet the needs of SMEs by offering features that enhance working capital optimisation and streamline B2B payments. Recognising Malaysia as a vital market, we are committed to supporting its SMEs on their growth journey with innovative, secure, and reliable payment solutions that enable them to thrive in an increasingly digital landscape.”

“At PayMate, we recognise the ongoing challenges faced by Malaysian SMEs in managing their cash flow. Traditional financial processes can be manual and time-consuming, often hindering business growth. Our new Business Payments App addresses these by optimising working capital and streamlining B2B payments, empowering businesses to take full control of their finances. With features such as unlimited transfers and the flexibility to make payments via credit cards, SMEs can seize opportunities and manage their supplier payments with greater agility,” Amirreza Sawal, general manager of PayMate Asia Pacific, said.