Visa-Backed PayMate Faces Funding Delays Amid DigiAsia Deal

Published: May 26, 2026 • Reading Time: 6 min read • Reporting: Intelligence Division

PayMate, a B2B payments firm, is struggling to pay full salaries to some staff due to pending DigiAsia deal and funding issues. The company expects to clear outstanding employee dues by June 30.

PayMate, a Mumbai-based B2B payments firm backed by Visa, has been unable to pay full salaries to some staff for up to a year. The company has linked repayment to the closure of a restructured deal with DigiAsia Corp. PayMate had previously sought a 1,500 crore public listing in India, but now faces funding delays. The company expects to clear outstanding employee dues by June 30, once its transaction with DigiAsia Corp is completed.