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Pine Labs, a merchant commerce platform, has partnered with OneCard, India’s first exclusive mobile-based credit card, to extend its equated monthly instalments (EMI) offering to all OneCard credit card holders.
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With this collaboration OneCard credit card holders will now be able to avail interest-free EMI on their credit card for mid and high-value purchases made at Pine Labs PoS terminals across the country.
Festive season ahead
Commenting on the partnership, Kush Mehra, Chief Business Officer, Pine Labs, said in a statement, “With the festive season in India fast approaching, we are delighted to now expand the scope of our EMI proposition to OneCard customers. This association with FPL will add more shoppers to the thriving interest-free EMI ecosystem we have on Pine Labs PoS terminals and give more customers the option to convert their regular purchases into interest-free EMIs in a matter of seconds.”
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Vibhav Hathi, Co-founder & CMO, OneCard, said, “With this partnership our customers can avail enhanced flexibility while managing their cash flow through the choice of EMI payments. Our partnership just ahead of the festive season will enable customers to enjoy hassle-free shopping through smart, easy and affordable instalments with just a swipe of their card.”
Targeting the tech-savvy
With this partnership, Pine Labs is aiming to target the tech-savvy population serviced by OneCard, while OneCard aims to solve the problem of short-term liquidity without burdening its customers with high interest fees.
The EMI integration is being rolled out at Pine Labs’ merchant partner outlets pan India, whereby all OneCard credit card holders will now be able to avail the EMI offering across more than 2.7 lakh Pine Labs PoS terminals in the country.
Pine Labs is expanding its instalment payment offering to international markets and recently partnered with Atome in Malaysia to enable affordable shopping options for customers in that region.
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