Pine Labs, one of Asia’s leading merchant commerce platforms has introduced Instant Payments, another remote payment acceptance option following the success of ePOS by Pine Labs. These remote payment options assume significance in the wake of COVID-19 as both merchants and customers are looking for safer ways to complete the transaction. This comes at a time when many small and medium merchants are affected by the lockdown and are looking to bounce back when their business resumes.
Pine Labs’ recent internal survey with over 400 retail merchants has revealed that there is renewed interest across different categories of merchant businesses where a need is strongly felt to build a digital payment acceptance infrastructure where multiple modes of digital payments and especially contactless payments can be accepted. Instant Payment introduces an option for anyone to accept payments from any place and anytime.
Kush Mehra, Chief Business Officer, Pine Labs, speaking on Instant Payments said, “These are tough times for everyone and especially small and mid-sized merchants, who are finding it difficult to operate under the lockdown. With heightened customer concerns around safety due to the COVID-19 pandemic, contactless payments are gaining traction and we are evolving as per the needs of our merchant partners and their customers. First with ePOS by Pine Labs which has now registered 50,000 downloads on the Google Play Store in just two months and now with Instant Payments, we are finding innovative solutions to meet the needs of today.”
Merchants are provided an easy to use dashboard through which they can initiate refunds, settlements, and manage all their transactions. They can then generate a customized link via this dashboard and share the payment link with the customer. Customers can now click on the link and pay according to their preferred payment mode. Instant Payments also provides an option or a customizable UI where merchant logo, product images, and descriptions can be added to provide a more personalized experience to their customers. Currently, Instant Payment allows transaction limit up to INR 5 lakhs per month.