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Pine Labs Unveils Mini, QR-first Device With Card Acceptance

QR-first and card tap contactless payments devise, Mini will facilitate easy digital payment solutions for small merchants

Pine Labs Unveils Mini, QR-first Device With Card Acceptance
 Navnit Nakra, CRO, Pine Labs

Outlook Start-Up Desk

POSTED ON September 04, 2023 12:07 PM

Merchant commerce omnichannel platform, Pine Labs has announced the launch of Mini, a revolutionary QR and Card acceptance device. Expected to be available at nearly one-third of the cost of a regular Point of Sale (PoS) terminal, the product is an ideal solution for small merchants. 

Commenting on the launch, Navnit Nakra, CRO, of Pine Labs, said, “QR-based and card tap payments are a perfect solution for Indian consumers on the go. On the merchant side, an absolute must is a fast checkout experience and the elimination of the cost barrier in point-of-sale digitisation. Addressing these needs, we are delighted to launch a QR-first, card-accepting, cost-effective PoS solution called Pine Labs Mini.”  

Operating across India and Southeast Asia, the company’s tech-first approach to digital payments and focus on simplification at the front end aims to help many businesses embrace fintech products at scale. The online payments cloud-based software, Plural represents a one-stop payment destination across channels. Plural is designed to deliver secure and frictionless online payment experiences to the end user, powered by an advanced tech stack that can augment an existing online business or build an all-new e-commerce payment setup from the ground up, the company said. 

As per the latest monthly update, released last week by the US Securities and Exchange Commission (SEC) Fidelity Investments has increased the valuation in Two Indian start-ups, and it expressed its faith in Pine Labs as well. the US-based investment company said that its stake in the company stood at $34.77 million as of July 31, 2023, up from 4.6 per cent from $33.24 million as of June 30, 2023.

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