Mosambee Acquired

EMV & AADHAAR compliant tablet-based mobile Point of Sale (mPOS) system providing end-to-end payment solutions for Bank, Cash, Cheque, Debit and Credit Card transactions.

Omnichannel payment acceptance including NFC-enabled Tap on Phone contactless card payments, EMI/Brand EMI options, payment hardware and dashboard analytics, positioned as "Simplifying Transactions Anytime, Anywhere."

Caters to a wide array of businesses, from SMEs to private and government entities to leading banking institutions in India.

Target industries include food and beverage, retail, hospitality, professional services, wellness and healthcare, e-commerce delivery, in person or online sell, inflight solutions and kiosk operations.

Pine Labs made a significant majority investment in Mosambee in April 2022, valuing it at around $100 million, while Mosambee continued operating independently.

Platform integrates with major financial institutions and networks including HDFC, SBI, Visa, Mastercard, American Express, Diners Club and Indian Bank, plus fintech partners like BharatPE, Google Pay and Magnati. The platform is also Apple Tap to Pay certified.

Mosambee acquired 100% of Cashless Technologies (Benow), a BNPL/EMI technology platform with a network of 35+ brands and 15 lenders, in a cash-and-stock deal in February 2022.

Largest revenue contributor: service rental, transaction processing and settlement generated Rs 163 crore (68% of total) in FY24.

Sale of point-of-sale hardware devices contributed the remainder of revenue, at Rs 77 crore in FY24 (down 3.4% from Rs 80 crore in FY23).