A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner
Business StandardFinancial technology unicorn Pine Labs is scaling up efforts to expand in India’s towns and hinterland. Pine Labs expects to process BNPL transactions worth Rs 5,000 crore and more this month as an increasing number of customers in small towns are buying products from physical stores availing of equated monthly instalments. This is 100 per cent growth, compared to any average month,” said Mayur Mulani, business leader, Pay Later, Pine Labs, in an interview, adding, “This is also the first time people are stepping out after two years to shop for the festival season.” Pine Labs, which is valued at $5.05 billion, competes with players like Razorpay, Paytm, and PayU. Shoppers in India can purchase wearable devices of select brands on a BNPL arrangement using Pine Labs’ PoS terminals. The ease of transaction is also key to pushing affordability.” Pine Labs is now enabling BNPL across a network of 15 major credit card issuers with a potential customer base of over 40 million.
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