Hyderabad: IT major Mahindra Satyam (MSat) on Wednesday said that it has partnered with London-based Oxygen Finance to market Oxygen's cloud-based Accelerated Payment System. This initiative is a part of Mahindra Satyam's drive to build its non linear business and create value addition for its customers, it said in a statement.

The letter of intent positions MSat as a partner to market and operate Oxygen Finance's Pure Oxygen system for SME suppliers. This cloud-based application will aim to attract public sector bodies and companies in travel, transport, telecoms and financial services sectors, the release said.

Vikram Nair, Head - Europe, Mahindra Satyam said, "We are excited about this partnership with Oxygen which will directly help the hard-pressed SME sector and provide significant opportunities for Mahindra Satyam to extend this value for our existing and new customers."
 

David Brown, CEO, Oxygen Finance, said, "We are delighted to enter into this agreement with Mahindra Satyam. Their capability will enable us to provide SMEs the opportunity to receive early payments which in these difficult economic times, we know, they value very highly."