Indian payments unicorn , Pine Labs has acquired Kuala Lumpur based payments and discovery platform Fave in a deal worth $ 45 Mn. With the acquisition, Pine Labs will look to build a consumer vertical in India and Southeast Asian countries such as Malaysia, Singapore and Indonesia.
Fave will launch its payments app in India, which will allow customers to transact at nearly 5 lakh retail points and merchants using Pine Labs’ payment solutions. Fave’s platform allows users to unlock discounts and gift coupons on making payments transactions.
