Mastercard-Backed Pine Labs Rolls Out Buy Now, Pay Later Offering in MalaysiaMarch 31, 2021
Pine Labs, an Asian merchant commerce platform backed by Mastercard, announced the launch of its Buy Now Pay Later (BNPL) offering in Malaysia.
The company provides a tech-first offline payments solution where on a single terminal multiple credit issuers can make BNPL offers to customers.
They further added that CIMB Bank, AmBank, HSBC Bank, AFFIN BANK, and RHB Bank are already on Pine Labs’ BNPL platform.
Pine Labs claims that it has already achieved success with offline BNPL services in India where it has 95% market share.
Late last year, Pine Labs had announced its intent to launch its BNPL solution in partnership with Mastercard to markets like Thailand, Philippines, Vietnam, Singapore, and Indonesia.
“It is an excellent product and a win-win proposition for everyone involved including consumers who get affordable buying options, merchants who are getting an enticing proposition to woo customers back to the stores and boost their sales, and banks and brands who get to build their brand loyalty.
This integrated solution that we launched with Mastercard will now be further expanded to newer markets in the region,”
said Kush Mehra, Chief Business Officer, Pine Labs.