Pine Labs enters online payments with three products under one platform
Pine Labs, a leading merchant commerce platform, launched Plural on Thursday, marking its entry into the online payments space. Backed by years of strong technological capabilities, the company said it now aims to reinvent the space through a suite of online payment products focused on speed, security, and user experience.
The firm said Plural is expected to disrupt the payments gateway space and make the offline-to-online transition easier for Pine Labs’ merchant base and other online businesses looking to tie-up with a company with a good track record in the payments ecosystem.
Plural is aimed towards merchants and enterprises looking to set up afresh or augment their existing online commerce business. The company is targeting online stores, big e-commerce companies, large-scale government institutions, and large financial services companies. These are all key segments where speed, simplicity, and security are critical elements when it comes to the desired user experience.
“I am very excited to take Pine Labs on a new journey and a familiar terrain. What our technology folks have delivered with Plural is absolutely a world-class, advanced tech, and a seamless way for online commerce to happen,” said B. Amrish Rau, CEO, Pine Labs, during the company’s Pine Labs X.0 summit. “We believe Plural is going to be a category-defining product that will deliver an unmatched payment experience to the end-user.”
Three key products announced under the Plural brand include: Plural Gateway, Plural Checkout, and Plural Console. Plural Gateway is a customisable payment gateway that allows payment acceptance via over 100 modes of payment which is also equipped to process Buy Now Pay Later (BNPL) transactions. Plural Checkout is a Mobile SDK (Software Development Kit) intended to boost payment gateway performance for Android and iOS users. Plural Console is a Payment Orchestration Platform (POP) that offers a single tech framework to trigger transactions via multiple payment gateways.
“The launch of Plural timed with our first-ever fintech summit called Pine Labs X.0 is another special feeling,” said Rau. “I really had a fantastic time interacting with industry leaders like Gaurav Munjal, Gokul Rajaram, Shailendra Singh, and Pine Labs’ Tanya Naik who joined us from PayPal last year and has truly spearheaded our entry into the online payments business.”