About Pine Labs
Pine Labs offers cloud-based point-of-sale (PoS) payment solutions. The company allows merchants to accept credit or debit card payments, as well as methods such as e-wallets, quick response (QR) code payment solutions, and unified payments interface (UPI)-based solutions. The company was founded in 1998 and is based in Noida, India.
ESPs containing Pine Labs
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The omnichannel payments market refers to the integration of various payment methods and channels, including physical stores, online platforms, and mobile devices. This market aims to provide a seamless and convenient payment experience for customers while also improving efficiency for businesses. The market is driven by the increasing demand for flexibility and convenience in payment options, as …
Research containing Pine Labs
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Pine Labs in 16 CB Insights research briefs, most recently on Jun 14, 2023.
Expert Collections containing Pine Labs
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Pine Labs is included in 7 Expert Collections, including Store tech (In-store retail tech).
Store tech (In-store retail tech)
Companies that make tech solutions to enable brick-and-mortar retail store operations.
Unicorns- Billion Dollar Startups
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Excludes US-based companies
Latest Pine Labs News
Sep 10, 2023
Sep 10, 2023 On Monday, the Indian fintech company Paytm unveiled its latest innovation: the ‘Card Soundbox,’ a device priced at 999 rupees ($12.08) designed to empower merchants to accept mobile and card payments seamlessly across various networks, including Visa, Mastercard, American Express, and India’s own RuPay. This move comes at a time when Paytm faces competition from other industry players such as Google Pay and Walmart’s PhonePe in the Indian market. Paytm Launches “Card Soundbox” Device The Card Soundbox not only enables merchants to facilitate card payments but also provides an additional layer of security by offering instant audio payment alerts, thus mitigating the risk of fraud. This development coincides with Pine Labs, one of Paytm’s rivals, introducing a similar device at a significantly lower cost than a regular Point of Sale (PoS) terminal. Paytm’s journey to prominence began when digital payments gained traction in India following the government’s decision to ban high-value currency notes in 2016. This transformation has witnessed businesses of all sizes, from local vegetable vendors to large showrooms, embracing digital payment methods as a means to conduct transactions conveniently and securely. Vijay Shekhar Sharma, the founder and CEO of Paytm, stated, “We have found that merchants and consumers need card acceptance as simply as mobile payments with Paytm QR Code.” Pine Labs, Competitor To Paytm Positioned its Own Product Pine Labs, a key competitor, positioned its own “price-friendly product” as a catalyst for accelerating digital payment adoption in India. Additionally, companies like PhonePe have also ventured into this domain with similar soundbox solutions that read out the received payment amounts for the merchant’s convenience. While Paytm made this significant announcement, the market response was mixed, with the company’s shares closing mostly flat on Monday, recovering from some earlier losses incurred during the trading session. In summary, Paytm’s introduction of the ‘Card Soundbox’ represents a strategic move to enhance the convenience and security of digital payments for merchants in India. As competition in the fintech sector intensifies, such innovations are expected to play a pivotal role in shaping the future of payments in the country.
Pine Labs Frequently Asked Questions (FAQ)
When was Pine Labs founded?
Pine Labs was founded in 1998.
Where is Pine Labs's headquarters?
Pine Labs's headquarters is located at Candor TechSpace, 4th & 5th Floor, Noida.
What is Pine Labs's latest funding round?
Pine Labs's latest funding round is Unattributed - IV.
How much did Pine Labs raise?
Pine Labs raised a total of $1.127B.
Who are the investors of Pine Labs?
Investors of Pine Labs include Vitruvian Partners, Alpha Wave Global, State Bank of India, Invesco, Fidelity Investments and 24 more.
Who are Pine Labs's competitors?
Competitors of Pine Labs include YapStone, PayNearMe, Hypur, Stripe, Mintoak, Yoco, TouchBistro, NearPay, Satispay, Ezetap and 26 more.
Compare Pine Labs to Competitors
PayNearMe develops technology to facilitate the end-to-end customer payment experience. It offers a billing and payment platform. Its platform helps users pay with cash for a range of goods and services from companies in e-commerce, property management, consumer finance, and transportation, enabling businesses and government agencies as well as retail stores to digitize their cash collection processes. It was formerly known as Handle Financial. The company was founded in 2009 and is based in Santa Clara, California.
Stripe operates as a financial technology company. It offers an online payment processing platform that securely accepts credit card payments. It allows users to accept payments, send payouts, and manage businesses online. It offers solutions such as revenue and financial automation, Banking-as-a-service, and more for marketplaces, electronic commerce (e-commerce) companies, and more. Stripe was formerly known as DevPayments. The company was founded in 2010 and is based in South San Francisco, California.
GoCardless provides online automated, and recurring payment services. It offers a payments network for businesses to take and settle recurring payments, instant bank payments, application (API) integrations, and more. The company was founded in 2011 and is based in London, United Kingdom.
ToneTag provides an audio-based payment solution. The company offers digital billing solutions, payment solutions, interactive voice response (IVR) payment solutions, marketing solutions, and more. It provides solutions for grocery stores and the food and beverage industry, It was founded in 2013 and is based in Bengaluru, India.
TouchBistro is an iPad-based restaurant management platform. It offers an integrated payments solution designed to meet the needs and fast pace of the food service industry. The firm was founded in 2011 and is based in Toronto, Canada.
Lemonway offers a pan-European payment institution. It dedicates to marketplaces, crowdfunding platforms, e-commerce websites, and other companies looking for payment processing, wallet management, and third-party payment in a know-your-customer/ anti-money laundering (KYC/AML) - regulated framework. The company was founded in 2007 and is based in Paris, France.