Indian fintech firm Pine Labs announced Tuesday a unified platform for merchants in Singapore that combines payment acceptance, acquiring, instalment payments and customer engagement.
Pine Labs said it enables merchants to deliver a more flexible and rewarding checkout experience through a plethora of payment acceptance choices, acquiring, instalment payments and customer engagement capabilities.
Through its extensive network of bank and brand partners, the company said it powers seamless instalment payment plans (IPPs) at the point of sale, helping merchants drive higher-value purchases while providing consumers with greater payment flexibility, Pine Labs said in a statement.
The acceptance of cards and alternative payment methods (APMs) through an integrated technology layer, further streamlines operations and enhances customer experience.
Unlike standalone payment acceptance at the point of sale, Pine Labs said it brings together payment acceptance, acquiring, consumer financing via integrated bank and brand instalment payment offers, on a single integrated platform.
This expansive suite is complemented by Fave, Pine Labs’ consumer payments and engagement app. Through rewards, cashback programs and merchant-funded offers, Fave helps businesses drive customer acquisition, increase repeat purchases and strengthen customer loyalty while delivering greater value to consumers.
“Singapore’s merchants are increasingly looking to simplify payments infrastructure while offering consumers more flexibility at checkout. By bringing together acquiring, payment acceptance, instalment payments and consumer engagement capabilities on a single platform, we are helping merchants reduce complexity and unlock new avenues for growth,” said Pine Labs Country Head Sinagpore Prasanna Varadharajan.
With operations across more than 20 markets, Pine Labs said it already serves Singapore brands including Courts, iStudio, CapitaLand, and FairPrice. Pine Labs is integrated with all major global payment networks like American Express, Mastercard, Visa and leading payment platforms like GrabPay, AliPay+, WeChat Pay, etc.
Pine Labs said starting payment acceptance in Singapore is part of the larger regional or international strategy.
The international presence and business for Pine Labs is one of the fastest growing segments of the company propelled by new innovative product capabilities for merchants in global geographies.
Singapore comes on the heels of the recently launched payments capability in Philippines in partnership with GCash, one of the largest eWallet providers in Philippines, it added.