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New Delhi, Jan 24 (IANS) Point-of-sale payments solutions aggregation Pine Labs on Friday appear an advance by all-around payments technology behemothic Mastercard.

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“This accord is a abundant validation of the top-quality articles that Pine Labs delivers to merchants,” Lokvir Kapoor, Founder and Chairman of Pine Labs, said in a statement.

“Together, we accept a different befalling to use Mastercard’s all-around attendance and technology basement to enhance our advance and accredit us to accommodated the growing needs of barter in India and beyond,” Kapoor said.

The accord will bear an all-encompassing ambit of agenda and real-time payments-based chapter costs at checkout – in-store and online.

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Together, the companies will action a apartment of value-added services, including Pine Labs’ stored amount solutions which will alter the cardboard ones now broadly acclimated by companies, retailers and bodies in South Asia and abounding added markets.

The advance is allotment of a affiliation to abide the accelerated advance of acceptable cyberbanking acquittal options for consumers beyond the region.

The two companies did not acknowledge the agreement of the deal.

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“By abutting armament with Pine Labs, we are reinforcing our action to bear best to consumers and to be the accomplice of best for our barter in South Asia and about the world,” said Ari Sarker, Co-president for Asia Pacific at Mastercard.

From its ancestry as an offline retail acquittal provider a decade ago, Pine Labs has acquired into alms acquittal accepting technology, stored amount products, in-store customer acclaim and added merchant solutions in India, Southeast Asia and the Middle East.

Pine Labs said it now processes payments of $30 billion per year and serves some 140,000 merchants beyond about 450,000 arrangement points.

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–IANS

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