US payments giant Mastercard invests in Indian firm Pine Labs

The market opportunity in India for installment-based payments on consumer goods will hit $16.9 billion in 2021 and is expected to jump to $52.5 billion in 2025

Pine Labs, a digital retail payments company, on Friday announced an undisclosed investment by US-based payments technology company Mastercard. The investment is part of a partnership to continue the rapid growth of convenient electronic payment options for consumers across the region. The collaboration will deliver an extensive range of card and real-time payments-based installment financing at checkout – in-store and online.

Together, the companies will offer a suite of value-added services, including Pine Labs’ end-to-end stored value solutions which will replace the paper ones now widely used by companies, retailers and people in South Asia and many other markets. Terms of