Pine Labs, one of the leading fintech firm, and Visa, the global leader in digital payments, have announced a strategic partnership to advance India’s digital economy through the launch of the Pine Labs Mini.
This new device, introduced at the Global Fintech Fest (GFF) in Mumbai, aims to transform in-store payment experiences for millions of Indian merchants.
The Pine Labs Mini is a versatile payment acceptance device designed for small and medium-sized businesses.
Equipped with QR code, Near Field Communication (NFC), and card payment capabilities, the device caters to a broad range of payment preferences, including contactless transactions through cards and smartphones.
This development marks a significant upgrade from traditional, low-tech payment solutions and is set to enhance the checkout experience for consumers and merchants alike.
Kush Mehra, Chief Business Officer at Pine Labs, and Rishi Chhabra, Head of Merchant Sales & Acquiring (MS&A) for Visa India and South Asia, unveiled the Pine Labs Mini. Mehra emphasized the device’s role in democratizing digital payments for micropreneurs and small businesses that have previously avoided such technologies due to cost concerns.
“We believe Mini’s launch will pave the way for mass-use, digital-first payment products,” added Kush Mehra.
Chhabra expressed Visa’s enthusiasm for the collaboration, highlighting the potential of Pine Labs Mini to revolutionize payment acceptance for small businesses.
“Visa is delighted to partner with Pine Labs to accelerate digitization among merchants with the launch of the new Pine Labs Mini. We believe this will transform the way small businesses accept transactions, especially contactless payments through cards and smartphones,” Chhabra stated.
In addition to this announcement, Pine Labs recently introduced UPISetu through its subsidiary Setu, a platform designed to leverage advancements in the Unified Payments Interface (UPI) sector for businesses and developers.
About Visa
Visa is a global leader in digital payments, facilitating transactions across more than 200 countries and territories.
The company aims to connect the world through innovative, convenient, reliable, and secure payment solutions, fostering economic growth and inclusion.
About Pine Labs
Pine Labs is one of the prominent merchant commerce platform operating in India, the Middle East, and Southeast Asia.
Known for its tech-first approach, Pine Labs provides comprehensive digital payment solutions through its cloud-based software, Plural, and its issuing business, Qwikcilver.
The company also offers consumer apps like Fave, which combines smart payments and savings with merchant loyalty solutions.
