Visa, Merex Investment & PayMate to digitize retail B2B rental collections

Visa, Merex Investment & PayMate to digitize retail B2B rental collections

Visa, the world’s leader in digital payments, Merex Investment, a joint venture between Dubai Holding and Brookfield Asset Management, and PayMate, a wholly-owned subsidiary of PayMate India, have partnered to digitize rental collections through Visa’s BPSP solution provided by PayMate.  Launched in 2020, Visa’s Business Payments Solution Provider (BPSP) solution allows enablement of payments made […]Visa, the world’s leader in digital payments, Merex Investment, a joint venture between Dubai Holding and Brookfield Asset Management, and PayMate, a wholly-owned subsidiary of PayMate India, have partnered to digitize rental collections through Visa’s BPSP solution provided by PayMate. 

Launched in 2020, Visa’s Business Payments Solution Provider (BPSP) solution allows enablement of payments made on card rails to be received by non-card-accepting suppliers into their bank account, by integrating with PayMate’s platform. 

By adopting this solution, Merex Investment will be able to collect rental receivables into their bank account through commercial card payments made by their tenants in the UAE, including The Beach, and City Walk. This allows their retail destinations to drive efficiency in their collection process while at the same time eliminating the need of manual reconciliation through traditional collection methods. 

In addition, the BPSP solution also helps their tenants with enhanced working capital while