SINGAPORE–(BUSINESS WIRE) – Pine Labs, one of the leading merchant commerce platforms in Asia, today announced that it has deployed its point-of-sale (PoS) solutions to the 136 stores of Al-Ikhsan, the largest retailer of sport in Malaysia. Pine Labs’ fully integrated payments, wallets, gift cards and Buy Now Pay Later (BNPL) technology stack is a solution used by some of the largest retailers in Asia. The ease, speed and convenience of taking advantage of BNPL offerings on Pine Labs’ PoS terminals and the availability of major issuers on a single unified platform are all factors that will help retailers looking to increase sales in these times. difficult.
Pine Labs has a 95% market share of BNPL offline services in India and, through its subsidiary Pine Payment Solutions, has launched BNPL in Malaysia. Al-Ikhsan has been Malaysia’s largest sports retailer in business since 1993 and its popularity can be measured by the fact that it is also the exclusive business partner of Liverpool Football Club (LFC) in Malaysia. The merger of the two entities will provide affordable installment purchase options for sports fans in Malaysia and also enable a seamless in-store payment experience.
“Sport as a category continues to show strong growth in Malaysia. Malaysians enjoy playing football, field hockey, badminton and squash and their love for the sport is well known. For almost 30 years now, we have been fueling this passion for sport in the country by providing high quality athletic footwear, clothing and equipment focusing on our main goal of keeping Malaysia fit and active by making sport affordable for everyone. Our customers now have the ability to easily convert their purchases from one of our stores into single installments and bring home top quality products from our extensive range. “ mentionned Vach Pillutla, CEO, Al-Ikhsan Sports Sdn Bhd.
“Al-Ikhsan is a pioneer in sports retail, and we are pleased to partner with them in Malaysia. With the deployment of over 180 Pine Labs PoS terminals in their 136 stores in Malaysia, their customers now have another reason to rejoice as they have the choice between a plethora of payment options and the ability to convert a purchase into a purchase. phased free with just a few clicks from our PoS device. We are confident that this relationship will grow in the times to come and give sports fans across the country a good reason to stay fit and stay fit at an affordable price, ”said Sharad Gulhar, Manager – Trade and Brands, APAC, Pine Labs.
Pine Labs is also expanding its Pay Later offering to other parts of Southeast Asia. Last year, Pine Labs announced the launch of an integrated installment payment solution later in partnership with Mastercard in markets such as Thailand, the Philippines, Vietnam, Singapore and Indonesia.
About Al-Ikhsan Sports
Al-Ikhsan Sports is Malaysia’s leading multi-brand and multi-category sports retailer, with 128 stores, and that number is expected to grow to 140 by the end of this year.
The company was founded by an enterprising first generation entrepreneur when he was only twenty years old, Mr. Ali Hassan bin Mohammed Hassan. The founder saw the local population’s need for sports brands like Nike and Adidas and decided to start with a 150 square foot store in a small mall in the town of Johor Bahru.
About Pine Payment Solutions
Pine Payment Solutions Sdn Bhd is a subsidiary of Pine Labs Pte Ltd. One of the leading commerce platforms in Asia, Pine Labs serves prominent large, medium and small traders in Asia and the Middle East. The company’s unique cloud platform enables it to offer a wide range of payment acceptance and merchant commerce solutions, including business automation systems such as inventory management and inventory management. customer relationship. Its stored value platform includes the issuance, processing and distribution of digital gift cards for businesses around the world. Incorporated in Singapore, Pine Labs’ main investors include Actis Capital, Mastercard, PayPal, Sequoia India and Temasek. To learn more, visit www.pinelabs.my