Pine Labs partners with OneCard to enable EMI option at PoS for their customers

Press Release

September 13, 2021

Pine Labs partners with OneCard to enable EMI option at PoS for their customers

New Delhi, September 13, 2021: Pine Labs, one of Asia’s leading merchant commerce platforms, today partnered with OneCard, India’s first exclusive mobile-based credit card to extend its Equated Monthly Installments (EMI) offering to all OneCard credit card holders. With this collaboration OneCard credit card holders will now be able to avail interest-free EMI on their credit card for all their mid and high-value purchases made at Pine Labs PoS terminals across the country.

The collaboration will enable credit card customers of OneCard shopping at retail outlets powered by Pine Labs PoS terminals to seamlessly convert their purchase transactions into easy, no-interest monthly instalments. With this partnership, Pine Labs is aiming to target the tech-savvy population serviced by OneCard, while OneCard aims to intuitively solve the problem of short-term liquidity without burdening its customers with high interest fees.

The EMI integration is being rolled out at Pine Labs’ merchant partner outlets pan India, whereby all OneCard credit card holders will now be able to avail the EMI offering across more than 2.7 lakh Pine Labs PoS terminals in the country. The partnership will offer the EMI facility across pan India outlets of leading retailers namely Reliance Digital, Vijay Sales, and Infiniti Retail among others.

Pine Labs powers more than 30 different credit issuers and NBFCs on its Android PoS terminals. OneCard offers its customers reward points on EMI transactions, ability to pay the EMIs with these points, and an intuitive dashboard to track all transactions. The coming together of both entities is expected to strengthen digital payments adoption in India, expand the EMI ecosystem to new customers, and enable merchants to sell more and sell often through a completely tech-enabled affordability solution.

Commenting on the partnership, Kush Mehra, Chief Business Officer, Pine Labs, said, “With the festive season in India fast approaching, we are delighted to now expand the scope of our EMI proposition to OneCard customers. This association with FPL will add more shoppers to the thriving interest-free EMI ecosystem we have on Pine Labs PoS terminals and give more customers the option to convert their regular purchases into interest-free EMIs in a matter of seconds.”

Commenting on the partnership, Vibhav Hathi, Co-founder & CMO, OneCard, said, “Pine Labs is one of the leading players offering the EMI facility and we are delighted to partner with them to offer our customers some of the best EMI options across both online and offline stores. With this partnership our customers can avail enhanced flexibility while managing their cash flow through the choice of EMI payments. Our partnership just ahead of the festive season will enable customers to enjoy hassle-free shopping through smart, easy and affordable installments with just a swipe of their card.”

OneCard aims to digitally revolutionise credit and payments in India. The card allows its users to control all aspects of OneCard from an app. This includes locking the card, enabling offline and online transactions, enabling domestic and international transactions, and paying the bill. The OneCard app gives card holders a view of their credit card spends, rewards, EMI, limits, payments, etc. FPL Technologies earlier launched OneScore in 2019, to empower people looking to monitor and manage their credit health in a simple and secure manner. The scoring platform is widely popular and has acquired more than 7 million users within just two years of its launch.

Pine Labs is expanding its instalment payment offering to international markets and recently partnered with Atome in Malaysia to enable affordable shopping options to customers in that region.

About OneCard

OneCard is a mobile-first credit card created by FPL Technologies in partnership with banks. FPL Technologies was founded by Anurag Sinha, Rupesh Kumar, and Vibhav Hathi, who come from banking backgrounds with deep expertise in payments, credit and building and scaling digital businesses. FPL is on a mission to re-imagine credit and payments from first principles; OneCard can be downloaded from 

About Pine Labs

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 is also available in India. Incorporated in Singapore, Pine Labs' key investors include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard.

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