Pine Labs forays into payment gateway biz
October 18, 2021
Pine Labs has forayed into the payment gateway business with the launch of another platform called Plural. This move pits in against incumbents Razorpay, PayU-Billdesk, CCAvenue and Paytm.
While the organization has launched three products, Plural Gateway, Plural Checkout, and Plural Console, its payment gateway business is a major offering and a natural progression for its merchant’s base of 5 lakh which receive payments using its suite of payments collection services.
Plural Checkout is a Mobile SDK (Software Development Kit) intended to help payment gateway business for Android and iOS clients and Plural Console is a Payment Orchestration Platform (POP) that offers a single tech framework to trigger transactions via multiple payment gateways, said the organization in a press statement.
Plural Gateway will enable a single payment dashboard for merchants, for a wide range of payments including credit-debit cards and Unified Payments Interface (UPI). With this, Pine Labs’ likewise fills in the last missing piece in its payment suite.
According to sources, the organization was also exploring acquisitions to get into the online payment gateway business. However, it seems that Pine Labs has preferred to build over buy for the new offering.