This article in the Business Standard reports that over one hundred thousand million customers in India are using PayMate to make transactions for products and services (movie tickets, airline tickets etc) via text message — with over 2,500 transactions being made daily. Fascinating. PayMate has just recently welcomed Indian bank, Cosmos — and will operate their mobile payment service on their behalf.
Link: Cosmos joins hands with PayMate
Pune-based co-operative bank, Cosmos, has joined hands with PayMate to provide mobile payment facility to all its customers. With this, Cosmos now joins the club of Citibank, HDFC and Corporation Bank, which have activated this facility for their customers.
PayMate is currently used by over 1,00,000 customers across the country. The subscribers of this service can pay for their online shopping, buy movie tickets and book airline tickets through an SMS.
I think you got confused by the commas. Its a 100,000 not a million. In India we write 100,000 as 1,00,000 and call it a lakh
Amit, thanks for the correction, I’ve made that change!