Pine Labs gets offline boost with latest acquisition

Pine Labs gets offline boost with latest acquisition


Pratik Bhakta

122 reads

Pratik Bhakta

122 reads

The Crux newsletter this week unpacks payments major Pine Labs’ investment in Mumbai-based Mosambee. This is its second big deal this year and underscores its full-stack ambitions

April 14, 2022

3 Min Read

Payments player Pine Labs is set to gain deeper access to the market of small offline retailers after buying a majority stake in payments solution company Mosambee.

Its product suite will now boast mobile point-of-sale terminals and a lighter software platform, which banks use to process transactions at small merchant outlets. 

Mumbai-based Mosambee, known little outside banking circles, is a key partner of HDFC Bank. According to industry insiders, it works with three to four other lenders. It is estimated to have a merchant base of 1 million and manages about 600,000 terminals.

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