Pine Labs launches ‘Buy Now Pay Later’ scheme in Malaysia

Asia’s leading merchant commerce platform, Pine Labs has announced the launch of its Buy Now Pay Later (BNPL) scheme in Malaysia.

“The offering will accelerate the digital payments adoption in the country and will make it possible for merchants to sell more in this tough business environment post the pandemic,” the statement said.

Speaking on the launch, Kush Mehra, Chief Business Officer, Pine Labs said, “We’re quite upbeat about the expansion plans around our very successful tech-focused Buy Now Pay Later product and are excited at its launch in Malaysia. It is an excellent product and a win-win proposition for everyone involved including consumers who get affordable buying options, merchants who are getting an enticing proposition to woo customers back to the stores and boost their sales, banks, and brands who get to build their brand loyalty. This integrated solution that we launched with Mastercard will now be further expanded to newer markets in the region.” 

Commenting on the launch, Amy Tan, Communications Director, DirectD Retail & Wholesale Sdn Bhd, the largest and fastest-growing mobile phone retailer in Malaysia, said, “At DirectD, our mission is to help every Malaysian stay connected via smart devices. We believe consumers today are looking for affordable ways to pay for their purchases.”  

“Pine Labs’ integrated technology-backed solution makes the Pay Later activation a seamless process, hence improving the customer journey. We look forward to leveraging Pine Labs’ capabilities in enhancing our current system,” Amy added.

Further adding to the statement, Pine Labs further said, “The company has partnered with Malaysia’s top banks including CIMB Bank, AmBank, HSBC Bank, AFFIN BANK, and RHB Bank for its BNPL offering.”