Pine Labs now enables EMI on credit and debit cards across 85,000 merchants

Pine Labs now enables EMI on credit and debit cards across 85,000 merchants

Pine Labs now enables EMI on credit and debit cards across 85,000 merchants

Chennai: Pine Labs, a merchant platform company, announced that it now successfully enables equated monthly instalment (EMI) offering via credit and debit cards for 85,000 merchants across 120,000 stores in India. Pine Labs has built a network of over 90 brands and 19 banks and financial services organizations that power EMI transactions for customers.

Kush Mehra, Chief Business Officer, Pine Labs said,Our credit car d and debit card EMI has enhanced the purchasing power for mill ions of customers. Pine Labs is enabling debit EMI alone for over 30 million consumers today. In addition, we enable EMI on credit cards for millions of customers.”   

Mehra added, “Debit EMI offering business has grown over 500% in April-June 2019, fuelled by a special campaign we and our par tners ran for Air Conditioners. We want to partner with other in dustry se gments such as furniture and home decor, sport fitness and outdoors, education, healthcare and auto mobiles to he lp customers avail easy affordability solutions.”  Pine Labs’ affordability solutions leverage its clo ud-based merch ant technology platform to provide instant EMI offers for credit and debit card holders.Pine Labs has recently sign ed a memorandum of understanding (MoU) with Bank of Baroda for instant EMI for milli ons of debit card holders of the bank. Pine Labs already powers debit EMI for Axis Bank, ICICI Bank, SBI and HD FC Bank customers.