Pine Labs opens in store payments platform to developers

Answer: Pine Labs (Image: Facebook)

Digital retail payments firm Pine Labs has announced the opening of an application program interface (API) of its android based in-store payment platform to developers who can now use the it to build value added solutions and applications for merchants.

The APIs will be housed on the Pine Labs developer portal. There will be a dedicated application store to house developers' apps. Pine Labs will support the distribution of the apps to the merchant community.

Pine Labs' in-store Android APIs offers options for developers who work in the areas of online and offline payments, customer feedback capture, travel and ticketing, ride sharing, and food and e-commerce delivery. The APIs will help developers build customisable, customer-focused solutions.

"Asia Pacific is the fastest growing developer region in the world. Analysts have predicted that the developer community in India will be the largest in the world in five years, surpassing that of the United States. We would like these developers to solve the interesting fintech challenges from this part of the world, using our APIs. We have, therefore, opened up our in-store and online payments APIs to the developer community," said Vicky Bindra, CEO, Pine Labs adding that the target is to have 5,000 developers by March.

According to NASSCOM, there are over 900 start-ups in the fintech space in India and about half of these are either in the payments or lending space.

Incorporated in Singapore, Pine Labs has its largest operations in India. It is a merchant platform company that provides financing and last-mile retail transaction technology. Its offerings are used by 1,00,000 merchants in 3,700 cities and towns across India and Malaysia.

Its counts Sequoia India, PayPal, Temasek, Actis Capital, Altimeter Capital, Madison India Capital and Sofina as its investors.