Home Credit India Strengthens Digital EMI-led Retail Loan Business with Pine Labs Partnership

New Delhi, April 11th, 2022: With the continued focus on Digital-first approach to retail loans business, Home Credit India, a local arm of the international consumer finance provider, today, announced its partnership with the leading merchant commerce platform, Pine Labs. This partnership will further strengthen Home Credit India’s retail network and enhance access to its Ujjwal Card’s digital EMI- financing options to millions of HC customers at Pine Labs PoS terminals pan-India. Even for shoppers who are new to Home Credit, merchants will facilitate a quick digital onboarding Journey of less than 5 minutes.

Initially, the digital Ujjwal EMI Card offering will be launched across 18,000 stores pan India and for purchase of electronics, home appliances, and mobile phones. More stores and newer categories will be added subsequently. A special introductory offer is also being extended, wherein, new customers availing EMI-financing through Home Credit’s Ujjwal (EMI) Card will receive a flat 5% cashback on product price.

Commenting on the partnership, Mr. Ankush Khosla, Chief Sales Officer, Home Credit India, said,
“We are delighted to have a leading player like Pine Labs, as our partner, to support and strengthen Home Credit’s drive for democratizing affordable consumer credit. We have always believed in delivering trusted financial products & services, responsibly and in today’s post-Covid Digital world, this partnership, reiterates our commitment to customers for an omnichannel connection with our products & services and meet customer needs by growing our partner network.”

Partnership with Pine Labs will give fillip to our customer loyalty, as HCIN customers will get a new avenue or large PoS network to avail Home Credit’s paperless EMI financing, powered by Ujjwal EMI Card. This partnership will also help in expanding HC’s customer base with new customer acquisition through Ujjwal card membership.

“Home Credit Group is a trustworthy name in consumer finance across the globe and today we are thrilled to partner Home Credit India which has a consumer base of more than 1.6 crore since entering the Indian market in 2012. Our joint offering will bring more customers under the growing Buy Now Pay Later EMI category and help merchants in India drive sales through easy to avail and quick EMI offers during checkout using Pine Labs’ PoS terminals,” said Mayur Mulani – Business Leader – Pay Later, Pine Labs.

With the Covid-led disruptions, Home Credit has embraced digital transformation well, by digitising all the offering and services end-to-end, as both our customers and merchants/retail partners can do seamless onboarding at the point of sale or anywhere via app or website. As part of our bouquet of Digital loan products introduced in last 2 years, the digital Ujjwal EMI Card, offering instant pre-set credit limit to customers was launched in late 2020.

The paperless, no-cost EMI options are fast-emerging as an enticing selling proposition for merchants who can in just a few taps of Pine Labs’ smart Android PoS terminal convert a regular purchase into 3, 6, 9, 12 months EMI options at no additional cost to the consumer.

*Terms and condition apply

About Home Credit India:

Home Credit India Finance Pvt. Ltd. is a local arm of the international consumer finance provider with operations spanning over Europe and Asia and committed to drive financial inclusion in India. The company is committed to drive credit penetration and financial inclusion by offering wide financial solutions that are simple, transparent, and accessible to all. Home Credit India has an employee base of over 7000 and has been consistently expanding operations since its entry in 2012, with its operations spread over 625 cities across India. The company has a strong network of around 53,000 points-of-sale (PoS) and is growing with a customer base of 13.2 million customers, driven by Pan-India expansion across major markets, a range of diversified and innovative products backed by superior customer experience.


For more information, visit www.homecredit.co.in and contact:


Home Credit India:

First Partners:

Bhuvnesh Talwar: 

+91 9871291211


Kanika Bansal:




About Pine Labs:

A leading merchant commerce platform, Pine Labs serves prominent large, mid-sized and small merchants across India and Southeast Asia. The company's leading cloud-based software platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. In April 2021, Pine Labs acquired Fave, a consumer fintech platform that provides a smart payment app to the smart generation of consumers looking to pay and save. Fave is currently available in Singapore, Malaysia and Indonesia with a planned roll-out in India in the near term. Incorporated in Singapore, Pine Labs' key investors include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard. To know more, please visit www.pinelabs.com.

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