Pine Labs, a merchant commerce omnichannel platform, is partnering with global payments giant Visa to scale digital payment acceptance and advance India’s digital economy ambitions unveiling a new soundbox-enabled device for QR, Near Field Communication (NFC) and card payments: ‘Pine Labs Mini’.
Millions of merchants across India currently rely on printed QR codes or other low-tech solutions. Recognising this, Pine Labs and Visa are joining forces to upgrade the in-store payment experience available in the region, also helping millions of consumers who want to pay digitally at the checkout.
Pine Labs Mini is an eco-friendly and economical digital payment acceptance device designed for small and medium-sized merchants. Leveraging QR, card, and NFC capabilities it will enable these merchants to capitalise on the growing consumer adoption of tap-to-pay card (and smartphone) payments and UPI in India.
“Pine Labs Mini unveiled in partnership with Visa today caters to the needs of India’s micropreneurs and small-scale businesses who have so far stayed away from digital payments adoption due to the perceived cost barriers,” explained B Amrish Rau, CEO of Pine Labs. “We believe Mini’s launch will pave the way for others to start building for mass-use, digital-first payment products.”
The device was announced at the Global Fintech Fest (GFF) in Mumbai by Pine Labs’ chief business officer Kush Mehra, as well as Rishi Chhabra, Visa India and South Asia’s head of merchant sales and acquiring.
Rishi Chhabra commented: “Visa is delighted to partner with Pine Labs to accelerate digitization among merchants with the launch of the new Pine Labs Mini. We believe this will transform the way small businesses accept transactions, especially contactless payments through cards and smartphones. We continue strengthening our commitment to delivering inclusive, economically viable solutions for merchants of all sizes to accept digital payments in India.”