Pine Labs Launches BNPL Malaysia

https://www.businesswire.com/news/home/20210329005846/en/Pine-Labs-Launches-Buy-Now-Pay-Later-in-Malaysia

Just two hours ago Pine Labs, who have 95% BNPL market share in India, announced the launch of their BNPL offering in Malaysia.

Key takeaway....

"CIMB Bank, AmBank, HSBC Bank, AFFIN BANK, and RHB Bank are the top banks in Malaysia that are already on Pine Labs’ BNPL platform. Some of the key merchants for which this solution will soon be rolling out include Senheng, DirectD, Ogawa, Gintell, Herbaline, and E.S.H. Electrical."

They've signed up six major retail merchants and at this early stage they already have the second, forth and sixth largest banks on side. The banks in Malaysia are doing what CBA recently announced in Australia. They will pick the eyes out of the BNLP market and leave the high risk customers to fringe players like IOU.