Statement Two

Press Release

July 24, 2019

Statement Two

New Delhi, July 24, 2019: With Pine Labs challenging the validity of such generic patent and filing its counter claim for revocation of the patent, the District court while moving the matter to Karnataka High Court also modified its earlier order to remove references to Plutus Smart or to dynamic QR codes. While malicious rumors are still being circulated in the market, Pine Labs continues to adhere to compliance with law of the land and shall ensure uninterrupted business for our customers.


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 www.pinelabs.com

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