Pine Labs, a leading omnichannel platform for merchant commerce, made waves on September 4, 2023, with the announcement of their groundbreaking product, “Pine Labs Mini.” This innovative device is set to revolutionize QR and card acceptance in India, offering a cost-effective solution that caters specifically to small and medium-sized enterprises (SMEs).

Traditionally, Point of Sale (PoS) devices in India have primarily focused on catering to customers using debit and credit cards. Pine Labs is taking a bold step by introducing Pine Labs Mini, a QR-first and contactless card tap payment device. Priced at approximately one-third of the cost of a standard PoS terminal, this device is expected to be a game-changer, accelerating the adoption of digital payments among smaller merchants.

Navnit Nakra, Chief Revenue Officer (CRO) of Pine Labs, expressed enthusiasm for the launch, highlighting the importance of QR-based and card tap payments in India’s fast-paced environment. He stated, “Indian consumers are constantly on the move, and for merchants, providing a seamless checkout experience and eliminating cost barriers associated with digitizing point-of-sale transactions are imperative. To address these needs, we are excited to introduce Pine Labs Mini, a cost-effective PoS solution that prioritizes QR payments while also accepting cards.”

Pine Labs has been at the forefront of India’s digital payment revolution, consistently delivering innovative payment solutions to meet the omnichannel needs of merchants. As a technology-driven organization, Pine Labs remains dedicated to addressing merchant challenges through continuous innovation.

About Pine Labs:

Pine Labs is a leading omnichannel platform for merchant commerce, with a strong presence in India and Southeast Asia. The company’s tech-driven approach to digital payments simplifies front-end processes, enabling businesses of all sizes to embrace fintech products at scale.

In the world of digital payments, Pine Labs’ cloud-based software, Plural, offers a comprehensive payment solution across various channels. Plural is designed to provide secure and frictionless online payment experiences for end-users, leveraging advanced technology to enhance existing online businesses or establish new e-commerce payment setups.

Pine Labs’ Issuing business is powered by Qwikcilver, offering an end-to-end technology service solution in prepaid transaction management, gift cards, and sales/distribution. Qwikcilver has a strong presence in multiple countries, serving leading brands and major customers in sectors such as retail, hospitality, and airlines across various geographical regions.

For consumers, Pine Labs offers the Fave fintech platform, providing smart payment and savings solutions for the next generation of consumers. Fave also empowers merchants with a loyalty program to foster customer engagement and innovative growth strategies.

Pine Labs continues to drive innovation and advance the adoption of digital payments, making Pine Labs Mini a significant milestone in their journey to reshape India’s merchant commerce landscape.

Reporter: Hrishikesh Kamat