Press Release

March 04, 2020

Pine Labs and ZestMoney partner to offer instant credit to customers at point of sale

New Delhi, March 04, 2020: Pine Labs, one of Asia’s leading merchant commerce platforms, today announced a strategic partnership with ZestMoney, the fastest-growing consumer lending fintech in the country. Pine Labs and ZestMoney will provide in-store digital Equated Monthly Instalment (EMI) options to customers through Pine Labs’ Plutus and Plutus Smart point of sale (PoS) devices. This offering is targeted at the new-to-credit customers. ZestMoney EMI on Pine Labs devices will be available across 20,000 outlets in 100 cities in the next 12 months.

Speaking about the partnership, Venkat Paruchuri, Chief Product Officer, Pine Labs said, “Our initial focus will be on mobile, consumer durables and IT categories. We hope to extend instant credit facility to additional categories such as apparels and fashion, education, wellness and healthcare, and travel and tourism over time.”

“At Pine Labs, we have built an ecosystem of affordability solutions for customers. We have partnerships with 21 issuers that offer EMI on debit and credit cards across a network of 93,000 merchants and already serve millions of customers every quarter. Our partnership with ZestMoney will help Pine Labs reach out to a whole new group of customers,” he added.

Lizzie Chapman, Chief Executive Officer and Co-founder, ZestMoney said, “We are excited about offering EMI on POS machines, Pine Labs' continued offline presence and experience in exceeding merchant and consumer expectations for over 20 years translates to intimate knowledge on how to manoeuvre in this space. This makes them the perfect partner with whom ZestMoney can further expand offline as there is perfect alignment in both companies’ respective objectives for their users.”

As an inaugural time-bound offer, ZestMoney will provide 0% interest EMIs on the purchase of any product for a three-month tenure. Apart from the inaugural offer, Pine Labs and ZestMoney are also working with manufacturers across mobile, consumer durables and laptop categories to bring EMIs with 3, 6, 9, and 12 months tenure.

This partnership will allow first-time credit seekers who do not have a credit or debit card to make purchases at offline stores and avail of EMI. Pine Labs’ cloud-based software platform can enable instant credit disbursal using ZestMoney’s credit risk and disbursement criteria.


About ZestMoney

Founded in 2015, ZestMoney uses advanced mobile technology, artificial intelligence and digital banking to make life affordable for millions of consumers who currently have no access to credit cards or traditional finance options due to insufficient credit history. ZestMoney originally started with providing financing for users in the form of digital EMI at checkout with e-commerce players. Today, their list of over 3,000 merchants spans across both offline and online channels. Its investors include Quona Capital, Xiaomi, Ribbit Capital, Omidyar Network, Flourish, Reinventure, Naspers and, most recently, Goldman Sachs.  To know more, please visit

About Pine Labs

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

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