Press Release

December 24, 2019

VIVO and Pine Payment join hands to offer zero percent Installment Payment Plan to CIMB customers

Kuala Lumpur, Malaysia, December 24 2019: Vivo Technologies Sdn Bhd (vivo) and Pine Payment Solutions Sdn Bhd have joined hands to offer brand-supported 0% Installment Payment Plan (IPP) to all CIMB credit card users. IPP is available on the purchase of vivo’s latest V17 Pro and NEX 3 mobile phones at nine participating Thunder Match Technology (TMT) stores. The partnership will enable one million CIMB credit card users to convert their TMT in-store vivo mobile phone purchases into easy monthly instalments at zero costs and receive an attractive gift bundles including JBL 2 Go speakers for NEX 3 and ScanDisk Drive for V17 Pro.

This special festive collaboration shall be available at the nine participating TMT outlets starting December 15, 2019, in time for the year-end festive season. The outlets include TMT Megastore Mid Valley Megamall, vivo Mid Valley Megamall, TMT Megastore Gurney Plaza, TMT Megastore Plaza Low Yat, TMT Alamanda Shopping Centre, TMT Megastore The Mall, Mid Valley Southkey, vivo The Mall, Mid Valley Southkey, TMT Kota Bharu and TMT Mesra Mall.

Speaking on the partnership, Chayan Hazra, Head - APAC Payments Business, Pine Payment Solutions Sdn Bhd said, “We are excited to partner with CIMB and vivo in enabling this unique offering at participating TMT outlets. This is the first time in the region that a global consumer mobile phone brand will be offering easy monthly instalments to make its products more affordable for the consumers. We are committed to offer affordability solutions to increasing number of customers in Asia. We have an extensive ecosystem for this in India that has enabled us to grow the business multi-fold in the last year. We are optimistic about launching IPP in Malaysia and are confident that this will enable TMT retail outlets to sell more to its customers. We look forward to expanding the IPP offering across brands, in the near future”

“At vivo, we develop innovative technology to solve user pain points and deliver a seamless experience across our range of devices. We are committed to be trendsetter and an influencer among youth culture. This partnership will help us make our products more accessible for the consumers in Malaysia and is in line with our commitment to deliver the best to our customers,” said Jeremy Lin, Sales Director of Vivo Technologies Sdn. Bhd.  

James Low, Product Marketing Director, TMT said, “At TMT, we strive to be the market leader and household name in Malaysia in providing one-stop information technology solutions and the highest level of service commitment to our customers. This partnership is a win-win for all parties.”

About VIVO

Vivo Communication Technology Co. Ltd. is a Chinese technology company owned by BBK Electronics that designs and manufactures smartphones and smartphone accessories in China. Vivo Communication Technology entered the Malaysian market in 2014 via Vivo Technologies Sdn Bhd (vivo), and currently has 5,000 outlets and 20 service centres in Malaysia. To know more, please visit www.vivo.com

About Pine Payment Solutions

Pine Payment Solutions Sdn Bhd is a subsidiary of Pine Labs Pte Ltd. a company incorporated in Singapore having its largest operations in India. It is a merchant platform company that provides financing and last-mile retail transaction technology. Pine Labs' Singapore offerings via its subsidiaries are used by over 1,50,000 merchants in 3700 cities and towns across India and Malaysia. In 2019, Pine Labs' Singapore acquired India's leading gift solution company, Qwikcilver. Its investors include Sequoia India, PayPal, Temasek, Actis Capital, Altimeter Capital, Madison India Capital and Sofina.