Pine Labs enters e-payments space, eyes $25-bn volume/yr

Leading merchant commerce platform Pine Labs, which on Thursday entered online payments space with the launch of Plural, looks to garner about $25 billion annual payments volume processed on the platform. “That’s the expectation in the next 18 months,” said B. Amrish Rau, chief executive, Pine Labs. Plural is aimed to tap merchants and enterprises looking to set up afresh or augment their existing online commerce business. The company is targeting online stores, big e-commerce companies, large-scale government institutions, and large financial services companies. Rau said the company processes about $30 billion annual payment volume in the offline space, and Plural is a good opportunity for the firm to deliver its world-class APIS (application programming interface) and Cloud infrastructure to merchants to provide seamless checkout to their consumers.