Pine Labs

Pine Labs has re-imagined point-of-sale payments in India, replacing the standard card-centric point-of-sale terminal with a smart, cloud-based payments platform that reduces costs and enhances retailer’s revenues. Pine’s software can be integrated with a generic point of sale terminal, allowing merchants to accept traditional electronic payment methods such as credit or debit card issued by any bank, as well as new generation methods such as e-wallets, QR code payment solutions or other UPI based solutions, on a single platform.Currently, our payment solutions are accepted at more than 85,000 merchants in leading sectors such as retail, ecommerce, electronics, food and beverages, fashion, pharmacy, telecom, and airlines. We have partnered with several NBFCs and integrated with India’s top 12 debit and credit card issuing banks along with the top We handle about 15% of India's card transactions in physical retail stores and process about 450M transactions worth over $15 Bn on an annual basis (as of March 2018). In India, we have about 300,000 POS terminals, thereby holding 10% of the total POS market share in the country – and one of biggest contributor towards cashless economy.Apart from India, Pine Labs has already spread its footprints in international markets like Malaysia and the United Arab Emirates (UAE). In the most recent development, Pine Labs raised $125M in funding from Temasek and Paypal. It also raised $82 Mn in a funding round led by Actis Capital and Altimeter Capital in March 2018. Back in 2009, Sequoia Capital India was the first venture capitalist to invest in Pine Labs and it continues to hold the largest share in the company.