KUALA LUMPUR, March 30 (Bernama) -- Pine Labs, one of Asia’s leading merchant commerce platforms, has announced the launch of its Buy Now Pay Later (BNPL) offering in Malaysia.
According to a statement, Pine Labs has already achieved tremendous success with offline BNPL services in India where it has 95 per cent market share.
The foray into Malaysia by its subsidiary Pine Payment Solutions comes at an interesting time when there is pent-up demand among consumers after a prolonged period of lockdown; consumers want easier access to credit and merchants are looking for newer ways to revive sales.
Pine Labs’ BNPL launch in Malaysia will further accelerate digital payments adoption in the country and make it possible for merchants to sell more in this tough business environment post the pandemic.
“We’re quite upbeat about the expansion plans around our very successful tech-focused Buy Now Pay Later product and are excited at its launch in Malaysia,” said Pine Labs Chief Business Officer, Kush Mehra.
“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.”
The company has ambitious plans to launch BNPL in the rest of the Southeast Asia markets.
Late last year, Pine Labs had announced its intent to launch an integrated pay later installment solution in partnership with Mastercard to markets like Thailand, the Philippines, Vietnam, Singapore, and Indonesia.
More details at www.pinelabs.my.
-- BERNAMA
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