Photo: Priyanka Parashar/MintMumbai: Singapore’s Temasek and digital payments company PayPal Holdings Inc. have picked up minority stakes in digital retail payments platform Pine Labs Pvt. On 6 May, Mint had also reported that Temasek was in talks to invest in Pine Labs. Pine Labs processes transactions worth $15 billion (annualized) on a base of 300,000 payments acceptance points. The company aims to reach one million payment acceptance points in India over the next three to five years. Sequoia India, which had first invested in Pine Labs in 2009, remains the company’s largest shareholder.

Source: Mint May 31, 2018 14:15 UTC