Pine Labs taps Blinkit and Zepto as it resets POS economics and expands gift-card distribution
Pine Labs is shifting more POS hardware costs upfront, plans 125,000–130,000 terminal deployments this year and is widening gift-card distribution through Blinkit and Zepto. The payments firm is also building issuing, prepaid-card and international growth engines.
Pine Labs is shifting POS hardware economics, expanding its Rs 100 crore issuing business and selling gift cards through Blinkit and Zepto. It also plans new prepaid card products, AI-led payment capabilities and international expansion while adding sales staff.
Why this matters
The shift follows Pine Labs' Q1 pattern: revenue rose 20% to Rs 737 crore and profit quadrupled, then profit fell 67% QoQ as investment spending compressed margins.
Omni-channel is accelerating, up 199,400% QoQ.
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