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is a US
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
online payments facilitator which started operations in Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
during October 2001. The service is similar in outcomes to PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
but credits funds directly to the recipient's bank account. Paymate enables sellers in Australia to accept payments in AUD, USD, GBP, EUR and NZD while sellers in New Zealand can accept payments in NZD.
The company is registered in Australia (ABN 91 093 528 002) and owned by a private consortium of business people. Paymate remains an accepted payment method to use with eBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
. Paymate holds an Australian Financial Services License and is regulated by ASIC. According to the company's own survey of clients as published on their website, they were rated 8/10 on client satisfaction.
On 7 August 2002 Paymate launched Paymate Express. With the new service buyers do not need to register and the money
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past,...
is deposited into the seller's Australian bank account.
Paymate moved their global headquarters to the USA in June 2009.1