FM Sitharaman visits Pine Labs Noida office, lauds India's fintech sector

During her visit to Pine Labs in Noida, FM Sitharaman praised India's fintech sector for delivering secure and inclusive digital financial services to MSMEs and merchants

Finance Minister Nirmala Sitharaman on Tuesday highlighted how fintech innovations are delivering seamless, secure, and inclusive financial services to merchants and medium, small and micro enterprises (MSMEs).

 

During her visit to the Noida office of Pine Labs, a leading fintech firm, FM Sitharaman lauded India’s fintech companies for their role in strengthening the country’s Digital Public Infrastructure (DPI).

 

According to the finance ministry’s posts on X, FM Sitharaman noted that fintech players are transforming financial services by fostering accessibility and security for businesses of all sizes. 

 

At Pine Labs office, she witnessed demonstrations of innovative solutions being developed around prepaid instruments, the Account Aggregator (AA) framework, and digital services for the Public Distribution System (PDS) and other government schemes.

 

The finance minister also interacted with Pine Labs employees and customers during her visit. Among them was Kuldeep Chauhan, a mobile retailer from Noida and a customer of Pine Labs. Chauhan shared with FM Sitharaman how his business has experienced significant growth thanks to the widespread adoption of digital payments.

 

Pine Labs is a fintech company, known for its innovative solutions in the payment and merchant commerce space. The company offers a range of products, including point-of-sale (POS) terminals, prepaid instruments, and digital payment solutions. Pine Labs' customers are merchants, retailers, and consumers.