Chennai: Pine Labs, one of largest merchant-focused companies and Kotak Mahindra Bank recently announced a tie-up to enable EMI payments via Kotak Debit Cards. According to a press release, this arrangement enables over 10 million eligible Kotak debit card customers to pay for their purchases in easy instalments via the Pine Labs POS terminals.
Pine Labs has a network of over 150,000 merchants across India. It will be a win-win proposition for both consumers and merchants as EMIs extend the power of affordability to consumers, the release added. Chief product officer, Pine Labs, Venkat Paruchuri said, “We are really excited to forge this alliance with Kotak Mahindra Bank for their debit card customers and look forward to taking our affordability product to millions of new customers. This also helps merchant partners increase their turnover and revenue.”