PayPal Invests in India’s Point-of-Sale Provider Pine Labs
PayPal (PYPL) recently joined other investors in injecting $125 million into Indian-based POS (point-of-sale) terminal provider Pine Labs, TechCrunch reported. Like PayPal rival Square (SQ), Pine Labs also makes POS devices that enable traders to accept card-based payments. In addition to selling POS terminals and processing payments for merchants, Pine Labs also offers mobile wallet services and advances loans to customers.