PayMate appoints Rakesh Khanna as its Chief Commercial Officer

14 Jan 2022 , 08:00 AM

PayMate India [Private] Limited (“PayMate” or the “Company”) today announced that it has appointed Rakesh Khanna as its Chief Commercial Officer, effective January 1, 2022. Rakesh will be responsible to lead the Company’s Global Expansion, Business Development, Strategy, Marketing, and management of P&L.

Armed with strong experience of over 23 years across the financial services industry, Rakesh has most recently worked at Visa Middle East FZ LLC (“Visa”), where he led commercial solutions for the CEMEA region, and was associated with Visa for a period of seven years.

Prior to Visa, Rakesh worked with Standard Chartered Bank for over a decade and started his career with GE Countrywide (GE Capital) in India, and subsequently worked with GE Capital International Services in their Chicago, USA office and with GE Life, in their UK officeSpeaking on this appointment, Ajay Adiseshann, Managing Director and Chairman, PayMate says, “Rakesh is an accomplished leader with a record of establishing and enhancing revenue streams in the financial services industry. His vast knowledge and experience will help us expand faster globally and we are absolutely delighted to have him join the PayMate team.”

Rakesh Khanna, Chief Commercial Officer, PayMate further adds, “I am equally excited to join PayMate as it is one of the largest payment platforms in India and is transforming the B2B supply chain payments process using its platform across the entire value chain consisting of customers and financial institutional partners. There is a tremendous opportunity in the B2B payments industry and PayMate, via its cloud based payment capabilities, is perfectly poised to capture it. Together, I am confident that we will be able to expand the base of PayMate users across the globe.”

PayMate recently announced its launch in the Kingdom of Saudi Arabia (KSA) after UAE; and appointed Kevin Phalen as an Independent Director.

PayMate is a Visa certified Business Payment Solution Provider (BPSP) and is actively gearing up to offer its B2B payments platform and working capital offerings into other countries in Central Europe, Middle East, and Africa (CEMEA) region in partnership with Visa and local financial institution partners. As of December 31, 2021, the PayMate platform is being used by more than 1,67,000 Indian businesses.