Pine Labs invests in Malaysian fintech firm Fave

Noida based payment solutions firm Pine Labs has invested an undisclosed amount of funding in Malaysian fintech platform provider Fave Asia Technologies.

The investment is part of a broader tie-up between the two companies, Pine Labs in a statement. Under the partnership, Fave’s QR code will become interoperable and integrated with Pine Lab’s terminals, enabling a single, safe, and seamless platform for digital payments and loyalty solutions in southeast Asia.

The two companies will also work together to expand cashless payment solutions for small and medium-sized offline enterprises. Merchants working with Pine Labs in Southeast Asia will also have access to Fave’s loyalty solutions and cashback programmes.

Joel Neoh, Co-founder and CEO, Fave, said: “With digitalisation playing an increasingly critical role in the recovery of southeast Asia’s economy, merchants recognise that they need to accelerate the development of digital solutions to ensure that they remain competitive.”