September 28, 2015
LTP recently got a chance to talk to the Chief Executing Officer of Pine Labs, Lokvir Kapoor.
LTP: How big is your company and who are your customers?
Lokvir: We managed 70,000 POS terminals in India at the end of financial year (March 2015) and have reached 100,000 terminals in August 2015. We plan to have 150,000 POS terminals by March 2016.
The company processed $5.5 bn worth of transactions in FY’15 (April 2014 to March 2015) and we expect to double the number this year. The company has a 12% market share by transaction value in the country where the total electronic transactions at POS stands at $50 bn in the same period. It is worth noting that 1.3% by volume and 10% by value of transactions processed by Pine Labs was through the EMI facility. At present, we generate 70% of our revenues through core payments, while the other 30% comes from value-added services.
We work with almost all major retailers such as Croma, Shoppers Stop, Arvind Stores, Big Bazaar, CCD, Cinepolis, Colorplus, Costa Coffee, D-Mart, Domino’s Pizza, Favourite Shop, Mahindra’s Babyoye, Hal ...