Pine Labs – Pioneer in Payment Segment



Pine Labs, a pioneer in payment, loyalty and retail automation systems provider offers wide range of payments technologies to serve majors like Future Group (Big Bazaar), Shoppers Stop, Airtel and few others. Plutus has extensive list of customers from grocery stores to big corporate clients.

Pine Labs has developed a product called Plutus, a debit or credit card acceptance solution streamlines operations to accept different type of payment options by merchants at the point of sale (POS). The product has standard API’s for integration into a variety of POS software applications and work on a variety IP networks as well as dial-up phone networks.

Plutus EDC machine is an intelligent device will assist merchant thru multiple acquiring bank’s automatic routing to secondary bank if first bank is unavailable. Plutus provides automatic reconciliation of all transactions on daily basis. Plutus EDC is designed to accept either credit/debit cards, Gift cards, Prepaid Cards, Loyalty Card and can load mobile currency too. Another enhanced feature of Plutus EDC machine provides single button batch settlement for all banks.


Pine Labs has developed Promozone, an innovative cutting edge service facilitating direct and effective medium to run focused promotion campaign directly reaching target customers. Plutus EDC machines prints logo of the advertisers on the charge slips. Promozone assures expanded reach with eye catching content and detailed analysis.

Plutus EMI platform offers EMI facility to the customers, where they have convenience of paying big purchases in defined installments with multiple tenure payment options. Customers have the choice of multiple durations and processing fee based options. Plutus EMI will provide instant approval for faster transaction. This facility has been extended to the customers of major nationalized bank like State Bank of India and private banks like Standard Chartered Bank, Citibank, HSBC, Kotak Mahindra Bank, ICICI Bank, American Express and few other banks. Merchant will get daily reports on all the transactions like settled EMI reports.

Pine Labs has developed few other products like Plutus Portable GPRS POS terminal to facilitate payments cash or card acceptance on the go. You can see these devices used in major restaurants. All the devices provided by Pine Labs will facilitate Transaction Reconciliation Management system (TRM) centralizes data collection and automatic reconciliation of transactions. The system provides unsettled terminal alerts and provides proactive alerts for better operational efficiency.


Pine Labs launched Gift Cards provides end to end solution to the merchants. It offers customization of gift cards, starting from design of the gift cards, printing of gift cards and integrating with the payment environment. The cards will be secured and cannot be counterfeited. Merchant has the facility to start Gift Card Program on the go without any hassles.

Nova is another powerful and innovative Loyalty program developed by Pine Labs. The program manages complete customer lifecycle starting from enrollment of customers, their retention. Nova provides high quality data analytics for the merchant and assists in campaign management. A number of establishments are using Nova program for their day to day business.

Pine Labs has developed IRIS program. IRIS solution helps oil companies to exercise complete control over operations of a retail outlet. It integrates tank gauging system and dispensing equipments. RIS solutions integrate back office with various activities like payments, loyalty programs. The solution is robust, cost effective, web enabled, flexible, scalability and user friendly.

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On an average, Pine Labs handles more than Rs. 4,000 Crores worth transactions in a month. Pine Labs received number of funding from 2009. They received funding of $1million from Sequoia Capital in 2009 and recently Pine Labs received another round of funding of $20 million from the same investors. New Atlantic Ventures have also invested in Pine Labs. Sequoia Capital is a major investor in Pine Labs funded 70% of the capital.

“Payment industry is growing fast, with the booming retail industry; we have witnessed an opportunity for PC based multi-bank card authorization solution that was robust and reliable. Technology advancement will soon be key to the industry. However, electronic payments are yet to take fully in India” said Lokvir Kapoor of Pine Labs.

Noida based Pine Labs employs more than 300 people in their rolls and will recruit few more in the coming years.