Pine Labs introduces BNPL options in India amidst festive season

By Edil Corneille

Pine Labs aims to create awareness around ‘Buy Now, Pay Later’ options available on debit and credit cards as it introduces to amplify the idea of #ChotiEMIpeBigCelebrations. Pine Labs recently launched the third edition of India’s biggest EMI shopping festival which is to continue till November 30, 2020. Pay Later provides quick and easy EMI options at the point of sale on consumer durables, mobiles, laptops, and accessories across major brands.

Over 30 brands including 15 banks (debit and credit cards) and 6 NBFCs have partnered with Pine Labs to allow shoppers to avail of the ‘Buy Now, Pay Later’ option and get cashbacks from brands using either debit or credit cards at over 100,000 stores with Pine Labs terminals.

Top banks and NBFCs in the country have stepped up and are offering Pay Later EMI options on both debit and credit cards. The seamless integration of these offers with Pine Labs’ Plutus Smart is offering shoppers a faster EMI checkout experience in comparison to in-store paper-based financing options.

Sanjeev Moghe, EVP & Head- Cards & Payments, Axis Bank said, “We are happy to partner with Pine Labs to offer some of the best Pay Later options available on Pine Labs PoS this festive season. #ChotiEMIpeBigCelebrations campaign further strengthens our belief that all dreams are achievable when you have the option to pay in easy EMIs. We are sure our customers will have an absolutely thrilling shopping experience.”

Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank said, “We are delighted to partner Pine Labs’ #ChotiEMIpeBigCelebrations shopping fiesta. This festive season, Kotak debit and credit cardholders can avail attractive EMI and no-cost EMI offers to buy a range of products in smart, easy and affordable instalments with just a swipe of their card. The #ChotiEMIpeBigCelebrations campaign will brighten up the lives of our customers this Diwali and spread festive cheer all around.”

“The ‘Buy Now Pay Later’ or BNPL is the new buzz word and it seems it is here to stay and grow. One of our first associations for Buy Now Pay Later was with Pine Labs and we are happy to partner with them for the campaign called #ChotiEMIpeBigCelebrations. While the last few months were unpredictable, the spend trend of customers indicates that India is on a growth trajectory and back on track and offering EMI on Debit Cards enables our customers to celebrate in style and pay later in affordable installments…” said Nilufer Mullanfiroze, Senior Vice President & Country Head-Retail Assets & Cards, Federal Bank.

“…We are happy to participate in the #ChotiEMIpeBigCelebrations campaign for this festive season. This campaign is also in sync with our theme of #KhushiyonKiUnmasking this festive season. I extend my greetings and good wishes to all our customers for this festive season and invite them to make the best use of various Cashback & No Cost EMI schemes on their Bank of Baroda Credit Card, under the #ChotiEMIpeBigCelebrations campaign,” said Shailendra Singh, MD and CEO of BOB Financial Solutions.

Indian and global retailers are also finding value by offering the Pay Later option on the Pine Labs PoS under the EMI Shopping Festival.