Mastercard invests in India's Pine Labs to provide installment financing

https://www.mobilepaymentstoday.com/news/mastercard-invests-in-indias-pine-labs-to-provide-installment-financing/
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Mastercard invests in India's Pine Labs to provide installment financing

Mastercard Inc. has acquired a stake in India’s Pine Labs, a merchant commerce platform that provides installment financing at checkout.

Pine Labs processes about $30 billion in payments per year, working with 140,000 merchants. 

The companies will offer customers in South Asia a suite of value added services, including stored value solutions that can replace paper-based transactions used by companies, retailers and consumers in the region.

“This relationship is a great validation of top quality products that Pine Labs delivers to merchants,” Lokvir Kapoor, founder and chairman of Pine Labs, said in a release from Mastercard. “Together we have a unique opportunity to use Mastercard’s global presence and technology infrastructure to enhance our growth and enable use to meet the growing demands of customers in India and beyond.  

Terms of the investment were not disclosed.

Cover image: iStock


 


Topics: Card Brands, Mergers & Acquisitions, Mobile Payments, POS, Region: APAC, Venture Capital

Companies: MasterCard


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https://www.mobilepaymentstoday.com/news/mastercard-invests-in-indias-pine-labs-to-provide-installment-financing/