The partnership between PayMate and De’Xandra aims to accelerate growth for Malaysian SMEs through innovative B2B payment solutions
FinTech BizNews Service
Mumbai, September 25, 2024: PayMate, a B2B payment solutions provider, has officially entered into a strategic partnership with De’Xandra - Malaysia’s leading perfume brand, in a move aimed at revolutionizing B2B payment processes and boosting the growth of Malaysian SMEs. This collaboration marks PayMate’s entry into the Malaysian market aligning with its mission to drive digital transformation within the SME sector of the region.
De’Xandra, Malaysia's leading perfume distributor, is committed to efficiently managing its growing network of over 6,000 distributors. To maintain strong relationships and streamline operations, De’Xandra prioritizes cash flow by efficiently collecting payments from distributors and making timely payments to suppliers. To support this, De’Xandra will use PayMate platform to enhance its payables and receivables management, ensuring smooth and reliable transactions across its network. This partnership also marks a significant milestone for PayMate as it strengthens its presence in Malaysia’s SME sector, which contributes to 38% to the country’s GDP and represents 97% of all businesses.
By leveraging the robust PayMate platform, De’Xandra and its extensive network of distributors across Malaysia are set to benefit from enhanced financial flexibility and operational efficiency.
SMEs in Malaysia often face challenges such as inefficient invoice management, limited cash flow, slow receivables and restricted payment options leading to tight liquidity and operational difficulties. The partnership between PayMate and De’Xandra aims to address these specific challenges for SMEs, particularly in the areas of cash flow management and payment acceptance.
Through PayMate’s cutting-edge B2B payment platform, SMEs can now use commercial cards enjoying an interest-free period up to 55 days*. This allows SMEs, mid-market and large businesses to make payments to all their B2B suppliers, offering a seamless and secure solution that fosters business growth.
Amirreza Sawal, General Manager of PayMate Asia Pacific, emphasized the importance of this collaboration, “At PayMate, we believe that the backbone of Malaysia’s economy lies in its SMEs and our mission is to empower these businesses with the tools they need to thrive. We are here to support every small business in Malaysia providing them with innovative payment solutions so that they may overcome working capital challenges, grow confidently and drive the nation’s prosperity.”
Ernayanee Nur, visionary Chairman of Blyon Group Berhad and also Oshien2u SDN BHD, the powerhouse behind the De’Xandra brand commented, “Collaborating with PayMate marks a new era for De’Xandra. With their payment solutions and support for accessing crucial capital, we are confident that our operational efficiency will significantly improve enabling us to better serve our customers and expand our footprint across Malaysia.”
By leveraging PayMate’s advanced B2B payment automation solutions, Malaysian businesses will be able to efficiently collect payments from distributors and pay their suppliers using commercial credit cards while effectively managing their working capital. This solution eliminates the need for suppliers to constantly follow up for payments ensuring they are paid on time or even in advance. This partnership stands as a powerful testament to PayMate’s unwavering commitment to turning ambitions into success stories across the SME landscape in Malaysia.
