If the acquisition comes through, Pine Labs will get access to Setu’s Account Aggregator consent framework and technology, helping it improve market time for its planned financial services launch.
Setu’s technology stack eliminates the need for financial service providers to make multiple integrations for one feature.
In 2021, the merchant-focussed fintech took its first steps towards consumer offerings with the acquisition of Singapore-based loyalty payments startup Fave. It also launched a payment gateway, Plural, to help new-age direct-to-consumer (D2C) brands accept digital and credit-linked payments.
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