Working closely with banks, card networks and regulators in India, Malaysia, and Singapore, mastercard-backed homegrown startup Pine Labs is emerging as one of South Asia’s foremost payment technology players. 

Helping consumers to make a UPI payment through QR code without scanning it, this startup is also working on its latest innovation called acceptance solution. 

Pine Lab’s CEO AMrish Rau has said that the main ambition would be to gain a pretty good amount of share of rapidly digitising South Asian payments market through this contactless domain. It is also eyeing in shaping the government’s ambitious up and coming micro-lending project Kashi. 

Moreover, in conversation with Economic times, the CEO has also said that they have successfully tested initiation of the QR-based payment process from the merchant terminal using NFC. 

And to test real payment scenarios,  various tests are ongoing with Google Pay, NPCI (National Payments Corp of India), among others. He also said that the company;s main aim would be to work towards standardising the solution across all the major apps before the full-scale launch. 

“We have also tested ‘tap and pay’ on the Android phones for debit and credit cards using NFC. We plan on implementing these solutions in India, Malaysia and one other Southeast Asian market in the first phase,” highlighted  Amrish Rau.