MoneyWorks4Me

Pine Labs enters into strategic alliance with Federal Bank

24 Sep 2019 Evaluate

Pine Labs, a merchant focused company, has entered into a strategic alliance with Federal Bank to offer Equated Monthly Installments (EMIs) on debit card-based offline transactions to all the bank's customers.

The objective of this association is to provide the affordability solution to debit card holders of Federal Bank, by way of POS based EMI solutions. It will allow 5.7 million Federal Bank debit card holders to instantly avail loan on EMI at the Pine Labs terminals.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

Peers
Company Name CMP
HDFC Bank 692.60
ICICI Bank 1354.00
Axis Bank 1247.00
Kotak Mahindra Bank 438.70
Indusind Bank 865.40
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