Pine Labs acquires Fave in USD 45 mln deal

Tuesday 13 April 2021 14:02 CET | News

Pine Labs has announced that it has acquired Singapore-based startup Fave in a deal valued at USD 45 million.

According to TechCrunch, Fave allows merchants to accept digital payments by having a customer scan a QR code. Once the payment is made, the customer automatically receives a cashback / loyalty point through the Fave app that can only be redeemed at that specific business during future transactions.

Pine Labs – which offers businesses payments terminals, invoicing tools, and working capital, and acquired a gift cards solution provider Qwikcilver in 2019 — made its first investment in Fave in 2020.

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Keywords: Pine Labs, Fave, QR code, online payments
Categories: Payments & Commerce | Online Payments
Countries: India
This article is part of category

Payments & Commerce