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March 03, 2020
New Delhi, March 03, 2020 – Pine Labs, Asia’s leading merchant commerce platform company, has today announced that it has brought on board B Amrish Rau to lead the company. Amrish brings fintech, entrepreneurial and corporate experience to his new role as Chief Executive Officer. He replaces Vicky Bindra who after a two-year successful stint as CEO is moving back to San Francisco. Bindra will continue to be an advisor to the company supporting strategic initiatives.
Amrish brings two decades of experience in the information technology, finance and fintech areas. Amrish’s start up Citrus Pay, which was funded by Sequoia India, was acquired by PayU in 2016 in one of the largest fintech acquisitions. At PayU, Amrish built India’s leading online payments and fintech platform. Amrish was the MD for First Data Asia and built a market leading payments JV with ICICI Bank. He brings in-depth experience and strong domain knowledge of many years, having worked with organizations like NCR and Siemens Nixdorf. He is a Squash father and follows his kids all over the world as they pursue the game.
Speaking of the transition Lokvir Kapoor, Executive Chairman, Pine Labs said, “I am excited to welcome Amrish to the Pine Labs family. With Amrish’s ability to innovate, seek out options with channels and customers we believe Pine Labs can be a true global commerce platform.”
“I also want to thank Vicky who set us firmly on an exciting high-growth journey. Vicky challenged us to explore new business areas and to build organizational structures and processes to support those,” Kapoor added.
“Pine Labs is an amazing platform which converges everything from everyday payments, to credit and gift cards. Deep domain knowledge and innovative products designs have helped Pine Labs lead the market. Using cloud technologies, Pine Labs wants to be all things commerce for merchants, help them save time and operate businesses efficiently. I feel excited to be part of the journey,” said Amrish Rau.
From its beginnings as an offline retail payment provider a decade ago, Pine Labs has evolved into offering payment acceptance technology, stored value products, in-store consumer credit and other merchant solutions in India, Southeast Asia and the Middle East. Today, it processes payments of US$30 billion per year and serves some 140,000 merchants across about 450,000 network points.
Pine Labs is one of Asia's leading merchant commerce platforms. Its unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions. Pine Labs' stored value platform offers issuing, processing and distributing digital gift cards for corporate customers. Its customer base includes prominent large, mid-sized and small merchants across India, South East Asia and the Middle East. Pine Labs is incorporated in Singapore. Its key investors are Sequoia India, Mastercard, Actis Capital, Temasek, PayPal and Sofina. To know more, please visit www.pinelabs.com