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July 20, 2021
New Delhi, July 20, 2021: Pine Labs has announced the appointment of Rangaprasad Rangarajan as the Head of Engineering - Online Payments. With its recent fund raise of USD 600M, Pine Labs is now focused on building a robust offline to online strategy. The company is developing world-class payment gateway services to help merchants build a winning omnichannel presence.
Commenting on the appointment, B. Amrish Rau, CEO, Pine Labs, said, “Ranga as a technologist comes with a wealth of experience and has deep understanding of Fintech and Engineering. We are very excited to have him on board and take charge of a promising new vertical within the company. As we enter new markets, expand our product portfolio, and put into action some remarkable upcoming offerings in the online space, Ranga’s knowledge and attention to detail will be invaluable.”
Prior to joining Pine Labs, Rangaprasad was a Sr. Director at PayPal where he led four Engineering teams at PayPal United States: Global Payouts Engineering team, PayPal's Issuance and Tokenization Platform, PayPal's Payments Switch platform, PayPal’s Settlement and Reconciliation Platform. He was responsible for defining and delivering platform enhancements and engineering solutions ranging from traditional payment cards to mobile wallets and next-generation tokenization capabilities, while maintaining/increasing security, convenience, relevance, and scale. He has also worked with companies like Amazon, Hewlett Packard, and JP Morgan Chase.
Rangaprasad Rangarajan, Head of Engineering – Online Payments, Pine Labs, said, “The tech-led disruption which the payments industry has witnessed in the last few years and especially post COVID-19 in India is remarkable. These are exciting times and Pine Labs having cemented its leadership position in the offline payments space is the place to be. I look forward to sharing my experiences and being a part of the company’s growth story.”
Pine Labs is aggressively expanding its popular tech-driven Buy Now Pay Later proposition to international markets, recently acquired Southeast Asia’s leading consumer fintech platform Fave, and has a market-leading gift card and stored value solutions provider in Qwikcilver.
One of Asia's leading merchant commerce platforms, Pine Labs serves prominent large, mid-sized and small merchants across Asia and the Middle East. The company's unique cloud-based platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. In April 2021, Pine Labs acquired Fave, a leading consumer fintech platform that provides a smart payment app to the smart generation of consumers looking to pay and save. Fave is currently operational in 35 cities across Malaysia, Singapore, and Indonesia and will soon be launching in India. Incorporated in Singapore, Pine Labs' key investors include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard.