Today in Payments: Pine Labs Notches $ 600 Million



In today’s top news, merchant trading company Pine Labs is now valued at $ 3.5 billion, and FinTech Pleo has raised $ 150 million. Additionally, Klarna is under investigation for violating bank security laws.

Pine Labs in India reaches $ 600 million at a valuation of $ 3.5 billion

Pine Labs, which provides merchant solutions for in-store and door-to-door payments, has raised an additional $ 315 million in an ongoing funding round led by Fidelity Management and BlackRock. The business has grown thanks to a growing shift of traders from offline to online in India.

Danish startup Pleo closes $ 150 million funding deal at a valuation of $ 1.7 billion

Business services startup Pleo raised $ 150 million under the leadership of Bain Capital Ventures and Thrive Capital, giving the company a valuation of $ 1.7 billion. Working from home from the pandemic has turned digital services into a necessity, accelerating demand for Pleo’s tools.

Swedish FSA investigates Klarna for customer information breach

Payments company Klarna is under the microscope of the Swedish financial watchdog for reported breaches of security laws that allowed Klarna users to see other users’ data during a brief interlude.

Britain’s Revolut considers investment in SoftBank at potential valuation of $ 30 billion

UK banking and payments app Revolut is in “detailed” talks with tech giant SoftBank to close an investment of between $ 750 billion and $ 1 billion. The investment would value FinTech at more than $ 30 billion.

NEW DATA: Budget-conscious consumers choose QSRs with loyalty programs

Consumers on a budget prefer to order from restaurants with loyalty programs. In New Book Delivering On Restaurant Rewards, PYMNTS Surveys 2,467 Consumers To Find Out How Quick Service Restaurants (QSRs) Can Use Loyalty Programs To Get 12 Million Consumers To Stretch Their Food Budget If That Means Getting QSR Rewards .

Report: FBI Says Online Cookies Hold Key to Financial Crime Prevention

Financial institutions (FIs) often close accounts at the first sign of fraud, but this holistic approach can alienate legitimate users and let quieter cybercriminals slip through the cracks. In the latest financial crime prevention playbook, PYMNTS spoke with an FBI spokesperson to examine why financial institutions should pay attention to user online cookies and other unique metrics to protect themselves. against financial crimes in the digital age.

DiDi crackdown after China IPO shows power still trumps pragmatism in Asia’s largest economy

A weekend decision by Chinese regulators to ban the popular ridesharing service from domestic app stores, just days after its commercial debut in the United States, is the latest example of the government’s complex relationship between promotion and the power.



About the study: UK consumers see local purchases as essential for both supporting the economy and preserving the environment, but many local High Street businesses are struggling to get them in. In the new Making Loyalty Work For Small Businesses study, PYMNTS surveys 1,115 UK consumers to find out how offering personalized loyalty programs can help engage new High Street shoppers.


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