RAKBANK and Pine Labs Join Hands to Launch the Most Innovative Payment Platform in the UAE

/ -- RAKBANK's partnership with Singapore-based Pine Labs, a merchant platform company that provides financing and last-mile retail transaction technology, will launch in the second quarter of 2019 an extremely innovative and unique payment platform in the UAE, which aims to transform the payment landscape in the region. The partnership is the first of its kind and will convert the 'point of sale' terminals into a 'point to acquire and engage' customers by offering a host of value-added services such as instant instalments, access to diverse rewards & loyalty programmes, top-ups, bill payments, instant discounts, campaign management, electronic-KYC, and more.

(Logo: https://mma.prnewswire.com/media/812226/Pine_Labs_Logo.jpg )
Frederic de Melker, Managing Director of Personal Banking at RAKBANK, commented on the signing: "RAKBANK is fully committed to placing our customers' needs first and providing them with highly convenient, secure, and simple payment solutions through this first of its kind exclusive partnership with Pine Labs. RAKBANK is constantly introducing new, alternative mediums and platforms that can facilitate the customer's banking experience through innovative payment solutions."
About RAKBANK
About Pine Labs
Pine Labs is incorporated in Singapore and has its largest operations in India. It is a merchant platform company that provides financing and last-mile retail transaction technology. Pine Labs' offerings are currently used by over 1,00,000 merchants in 3700 cities and towns across India and Malaysia. Its investors include Sequoia Capital, PayPal, Temasek, Actis Capital and Altimeter Capital. To know more, please visit www.pinelabs.com