Pine Labs enters UAE to offer its fintech platform for banks and merchants
Pine Labs' point-of-sale (POS) tech stack would help banks build scalable and efficient merchant experiences, according to President and CBO of Pine Labs Kush Mehra.
Noida-based fintech company announced its expansion to the United Arab Emirates (UAE) market.
It will offer its technology stack to local banks and financial institutions which will help banks serve its merchant partners better, the company said in a statement.
Pine Labs' point-of-sale (POS) tech stack would help banks build scalable and efficient merchant experiences, Kush Mehra, President and CBO said in a statement. "We believe UAE banks are keen to deliver value to their merchant partners and are looking for smarter tech integrations," he added.
This partnership is also expected to improve product delivery for banks in the region, the company said.
Besides banks in UAE, Pine Labs will also work with jewellery firm Kalyan Jewellers which has a significant presence in the region.
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The company has a presence in India and Southeast Asia and has partnered with large banks like Axis Bank, State Bank of India, ICICI Bank and brands like Croma, Pantaloons, Sony, TVS, Zara and Apple, till date.
Pine Labs raised $50 million from London-based Vitruvian Partners in March last year. It also counts Sequoia Capital, Actis, Paypal, Mastercard, among others as backers.
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Edited by Akanksha Sarma