Cashless transactions just got a shade better. Paymate, a U.S. based online payments facilitating service financed by Mayfield Fund, KPCB and Sherpalo has rolled out WayPay, a service that would assist the fleet operators to work more efficiently by negating the need of cash-based transactions. Furthering this initiative is Paymate’s collaboration with Mahaventures, a fleet management company.
The fleet operator's mate!
WayPay, together with the fleet management company have come up with a way to ease out the complexities that fleet operators face on their daily business, with issues pertaining to cash-based transactions. Using the services, at least for now, fleet operators can purchase fuel, tires, batteries and service centre bills. In a seemingly simple process, those with vehicles will have to register their vehicles, and contact numbers of their drivers with WayPay. Then, after fixing a purchase limit, and by subsequently refilling the prepaid account by the way of online transfers or cheques, can the drivers claim access to their WayPay IVR using their registered number. They can then proceed with their transactions by entering their PIN number, for the same.
Additional services can be expected to be added to the string of the current services. Also for now, the services will only be made available to fleet operators in Western India. However, other regions would be included soon enough, too.