Pine Labs has appointed Vicky Bindra, Former Visa and Master Card executive as CEO of the company to assist in the acceleration of process in the global market.
Walmart backed PhonePe is slowly entering the offline space. PhonePe has also deployed a point of sale device for offline vendors and claims to have 1 million offline merchants. Private equity firms General Atlantic and KKR have shown a keen interest in investing in PhonePe as it is emerging as an independent unit.
Paytm also has good presence offline using its QR codes. Paytm raised $300 million from Warren Buffett’s Berkshire Hathaway previous year. Pine Labs is exploring its business using funds.
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