India, 2020: Pine Labs, one of Asia’s leading merchant commerce platforms has strengthenedits EMI on debit cards proposition in India and is available to an eligible base of more than 30 million. The company has tied-up with seven major banks and more than 100 brands that power EMI transactions for customers.Merchants can calculate EMI on their Pine Labs’ POS and share latest bank/brand EMI offers to their customersand increase sales conversion in the process.
“With more than 90% of payment cards in circulation being debit, offering EMI facility to debit cardholders will aid customers to spread their spends. At the same time, with merchants looking for newer ways to boost sales during the current pandemic-have a great opportunity at hand to attract customers with affordable purchasing option at the point of sale. Beingthe largest provider of instalment payments on credit card via POS, we believe that EMI on debit card will give merchants an upper hand over their competition,” said a Pine Labs spokesperson.
A merchant can check the cardholder’s eligibility for EMI by swiping their card on the Pine Labs POS. The process is entirely digital and can be done in just a few clicks. Pine Labs already powers debit EMI for Axis Bank, ICICI Bank, SBI, Federal Bank, Bank of Baroda and HDFC Bank customersand from credit facilitators like ZestMoney, Mahindra Finance, MoneyTap, etc. On the other hand, it also has a network of 100+ brands like Samsung, LG, Apple, Amway, Sony and Chroma, etc. The company is currently running EMI offers on leading mobile and electronics brands with exciting cashback offers as well on some of these brands. Activating a debit card EMI using a Pine Labs PoS requires no documentation.
About Pine Labs
Pine Labs is one of Asia’s leading merchant commerce platforms. Its unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions. Its stored value platform includes issuing, processing and distributing digital gift cards for corporate customers. Its customer base includes prominent large, mid-sized and small merchants across India, South East Asia and the Middle East. Pine Labs is incorporated in Singapore. Pine Labs’ key investors include Sequoia India, Mastercard, Actis Capital, Temasek, PayPal and Sofina. To know more, please visit www.pinelabs.com
