Pine Labs, a fintech firm that has joined the unicorn club, launched AllTap, a contactless payment app for small and medium-sized businesses.
Based out of Noida, India, the fintech firm has expertise in PoS (Point of Sale) payments. On January 27, 2021, the company launched its new product called “AllTap.”
Developed for small merchants to start accepting digital payments without any delay on their NFC-enabled smartphones, the app does not require any additional hardware.
As per Pine Labs, AllTap is an app that caters to those SMB customers who are not ready to or do not have the bandwidth to invest in a traditional Point-of-Sale (PoS) terminal to accept digital payments.
These consumers include home entrepreneurs, small merchants, hawkers, street vendors, and cab drivers, amongst others.
Talking about the launch of the app, B. Amrish Rau, CEO, Pine Labs, said, “We heard from small merchants, taxi drivers, self-employed individuals, tuition-givers, and several other solopreneurs who wanted a simple digital payments acceptance solution. Pine Labs AllTap has tremendous potential to bridge the digital divide not only in India but also in other markets. We are excited to introduce this pioneering app in the market today.”
According to the start-up, “The ‘tap and pay’ feature within the app is secure and is certified by the PCI Security Standards Council (PCI SSC), RuPay, Visa, Mastercard, and Amex.”
Adopting the Pine Labs’ AllTap app, merchants can change their NFC-enabled smartphone into a payment acceptance device in just a matter of minutes and access to a number of additional features, including converting a transaction into monthly installments or EMIs at a later stage, to impact sales.
Pine Labs also said AllTap is engineered to address various pain-points of small merchants, where they can easily switch to contactless digital payment, accept digital payments acceptance during door-step delivery, and reduce the checkout time delays through quick tap-and-go payments.
The start-up also confirmed that it needs very little documentation for the digital onboarding of merchants, and it is available on the Google Play Store.
Pine Labs caters to large, mid-sized, and small merchants across Asia and the Middle East. To help businesses grow, it provides a wide range of payment acceptance and merchant commerce solutions, such as enterprise automation solutions, like inventory management and customer relationship management.