Standard Chartered’s customers in Malaysia now have the option to avail 0% instalment options on credit cards at any offline point-of-sale powered by merchant commerce platform Pine Labs.
The over 25,000 merchant outlets in Malaysia that run on Pine Labs POS terminals will be equipped to process these Buy Now Pay Later (BNPL) transactions.
Pine Labs, which is backed by Mastercard, had previously launched its BNPL services in Malaysia in March 2021.
“We are very excited to partner with Standard Chartered to provide their customers unique affordability solutions.
We are also planning to periodically roll out other important value-added services like cashbacks and discounts for the Bank’s credit card customers,”
said Chayan Hazra, Head of Payment Business for APAC at Pine Labs.
“The pandemic has affected many Malaysians, and as we are now getting back to normalcy, this collaboration with Pine Labs on BNPL solutions would connect our customers to a wider ecosystem of merchants to provide a flexible and manageable way to cope with purchases or paying bills.
This is in line with the bank’s commitment to improve product access, financial inclusion and value-added services to our clients,”
said Sammeer Sharma, Head of Consumer, Private and Business Banking at Standard Chartered Malaysia.
Featured image: Edited from Unsplash
