Pine Labs, an India-based fintech platform, has announced a partnership with global payment firm Visa to introduce Visa Instalment Solutions (VIS) on Pine Labs’ multi-issuer payment solution across key markets in Southeast Asia.

Pine Labs said in a statement on Tuesday that the collaboration will enable merchants more flexibility and affordability to offer seamless instalment payment options for domestic and cross-border transactions.

Merchants in Southeast Asia including Courts, Hooga and Chicco will be able to offer this integrated instalment solution.

Previously, merchants used to sign up with multiple issuers and deploy multiple payment terminals to process instalment transactions at the point of sale.

The Visa Instalment Solutions will be first introduced on Pine Labs’ network of merchants in Singapore, Malaysia and the Philippines, and subsequently in Thailand, Indonesia and other Southeast Asia markets.

“This collaboration plays on the strength of Visa’s vast global network and Pine Labs’ tech capabilities to provide flexible and intuitive instalment payment options for consumers,

“Facilitating consumer finance on already approved credit lines using their existing credit cards is expected to be a win-win for cardholders and merchants,” said Dheeraj Chowdhry, Chief Business Officer – SEA, Pine Labs.

“It empowers merchants and direct brands to boost ticket and basket size by taking the transaction up the affordability curve,

“This is further amplified by enablement of cross-border instalments during purchase – a feature that will be a ‘market-first’ across the instalments landscape,” he added.

Meanwhile, Kim Hak J, Head of Products and Solution for Regional Southeast Asia, Visa, said that according to Visa’s Green Shoots Radar Study, the usage of instalment solutions in Southeast Asia is significantly higher than the Asia-Pacific average.

“The same study showed that over the past two years, we have observed a notable increase in instalment payments usage, particularly in Malaysia, Thailand, and the Philippines,

“This trend underscores the growing preference for flexible payment options among consumers in these markets, and we are excited to support this demand through our partnership with Pine Labs,” he added.

Pine Labs is a technology company digitizing commerce, through a suite of digital payments and issuing solutions in India and across the globe.

The firm has built an advanced technology infrastructure to accelerate the digitization journey of merchants, consumer brands, enterprises, and financial institutions.

It operates in India and a growing number of international markets including Malaysia, United Arab Emirates (UAE), Singapore, Australia, United States, and Africa.

The firm also offers prepaid instruments primarily in India, Southeast Asia, Australia and the United States and it presently offers credit processing in India, Africa, and Southeast Asia.

Visa is a global digital payments firm facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories.

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