Payment provider platformÂ Pine Labs has turned the humble card machine into a loan agent by providing the facility of âPay Later EMIâ on its payment terminals.Â
The company, which has tied up with 30 financial institutions and over 100 merchants, is now taking the Pay Later EMI facility to consumers in a very innovative way through the very tested and credible print medium.Â
The company recently launched a campaign targeted at informing consumers the flexibility Pine Labs provide on debit and credit cards.Â
Conceptualised by Wondrlab, theÂ print ad placed on the first page of Times of India read, âall products advertised in this paper can be bought on #PayLater EMIâ.Â
Pine Labs currently facilitates one of the biggest Pay Later solutions in the world.Â
âWe were focused on simple consumer messaging. The idea was to make âPay Laterâ the key takeaway of the communication,â said Gayatri Rath, Chief Marketing and Communications Manager at Pine Labs.
Apart from awareness through campaigns, Pine Labs will invest in consumer education as necessary in future.
The company is increasing its merchant-focused outreach.Â It plans to educate merchants about its flexible, technology-based Pay Later solution in helping them grow their business.
âWe want customers to know they can walk into a store with a Pine Labs terminal and buy most things over Rs 5,000 with a Pay Later option by using their credit or debit card in less than 40 seconds,â said Rath.
"We believe our technology is the hero here. Our technology infrastructure allows us to bring together a wide network of partners across, banks, NBFCs and brands. Our technology is the true hero and we delighted to bring this solution to Indian consumers,â she added.Â
Rakesh Hinduja, Co-Founder and Managing Partner, Content Platform, Wondrlab,Â said, âThis year has pushed most of us to hold back our shopping and spends, especially in the current economic context. This simple, innovative âPine Labs, Pay Laterâ solution connected with consumers. Diwali sees various brands put forward their products and services in full glory and we decided to own the space through Pine Labsâ offering; all products advertised in the paper could be purchased immediately with payment possible later. The fabulous offering from Pine Labs got a deserving and effective creative expression.â