right Paymate is an Australian online payments facilitator which started operations in October 2001. The service is similar in outcomes to PayPal 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 operated in Australia by Flexi Online Pty Ltd (ABN 42 154 594 199), a subsidiary of FlexiGroup (ASX:FXL). Paymate is recommended by eBay as a safer payment method for transactions on eBay. Paymate holds an Australian Financial Services License No 415833 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 is deposited into the seller’s Australian bank account. In June 2012 Paymate OnTheGo was launched. Paymate OnTheGo is a credit card reader that, once plugged into a smartphone, turns it into a POS terminal allowing merchants to accept Visa and MasterCard Credit and debit card payments. It is similar to Square,_inc in the US.