Pine Labs, a merchant platform company, has announced a collaboration with Google India to enable offline transactions for their digital payments service, Google Pay. With this collaboration, Google can have access to over 330,000 POS terminals in over 3000 towns in India. Pine Labs’ solutions are used by merchants from diverse sectors – electronics, food & beverage, fashion, pharmacy, telecom and airlines. Pine Labs enables online and offline last-mile retail transaction for over 100 brands.
Vicky Bindra, CEO, Pine Labs said
We are excited to collaborate with Google and bring the convenience of UPI at point of sale for Google Pay users through our platform in India. Last year, over 100 million customers bought products and services from our merchant network. With Google Pay, we expect to reach many new groups of customers across the country.
Pine Labs branded POS terminals in offline stores can be used by merchants to process Google Pay using a secure, two-step process. Merchants can initiate a payment request using a Google Pay user’s mobile number. The user then authenticates this request via their Google Pay app for the payment to be processed. Both the merchant and customer receive instant notifications on the completion of a transaction.
About Pine Labs
Pine Labs is incorporated in Singapore and has its largest operations in India. It is a merchant platform company that provides financing and last-mile retail transaction technology. Pine Labs’ offerings are used by 1,00,000 merchants in 3700 cities and towns across India and Malaysia. Its investors include Sequoia India, PayPal, Temasek, Actis Capital, Altimeter Capital, Madison India Capital and Sofina. Visit Pine Labs for more information.