Pine Labs, merchant commerce platforms, today announced its partnership with OneCard--a mobile-based credit card, to extend its Equated Monthly Installments (EMI) offering to all OneCard credit card holders.
What it entails
With this collaboration OneCard credit card holders will now be able to avail interest-free EMI on their credit card for all their mid and high-value purchases made at Pine Labs PoS terminals across the country.
The EMI integration is being rolled out at Pine Labs’ merchant partner outlets pan India, whereby all OneCard credit card holders will now be able to avail the EMI offering across more than 2.7 lakh Pine Labs PoS terminals in the country.
The partnership will offer the EMI facility across pan India outlets of leading retailers namely Reliance Digital, Vijay Sales, and Infiniti Retail among others.
The collaboration will enable credit card customers of OneCard shopping at retail outlets powered by Pine Labs PoS terminals to seamlessly convert their purchase transactions into easy, no-interest monthly instalments.
With this partnership, Pine Labs is aiming to target the tech-savvy population serviced by OneCard, while OneCard aims to intuitively solve the problem of short-term liquidity without burdening its customers with high interest fees.
Kush Mehra, Chief Business Officer, Pine Labs, said, “This association with FPL will add more shoppers to the thriving interest-free EMI ecosystem we have on Pine Labs PoS terminals and give more customers the option to convert their regular purchases into interest-free EMIs in a matter of seconds.”
Vibhav Hathi, Co-founder & CMO, OneCard, said, “With this partnership, our customers can avail enhanced flexibility while managing their cash flow through the choice of EMI payments. Our partnership just ahead of the festive season will enable customers to enjoy hassle-free shopping through smart, easy and affordable installments with just a swipe of their card.”
OneCard allows its users to control all aspects of OneCard-- locking the card, enabling offline and online transactions, enabling domestic and international transactions, and paying the bill. The OneCard app gives card holders a view of their credit card spends, rewards, EMI, limits, payments, etc.
Pine Labs is expanding its instalment payment offering to international markets and recently partnered with Atome in Malaysia to enable affordable shopping options to customers in that region.
