SenangPay, a Malaysian payment gateway, has partnered with Pine Labs, an India-based fintech firm, to introduce instalment payment plans (IPP) to local businesses through a single integration.
SenangPay said in a statement on Monday that this allows businesses to offer up to 24-month instalment options without the hassle of managing multiple bank integrations.
This partnership marks a significant milestone in bringing more accessible flexible payment options to local businesses. Through this collaboration merchants using senangPay payment gateway can now offer IPP providing customers with greater flexibility for high-value purchases.
The integration of it’s IPP requires a single integration only, allowing merchants to connect seamlessly with multiple major banks for IPP transactions.
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This one-time setup simplifies the onboarding process by eliminating the need for multiple and separate integrations with different banks to offer IPP services.
Aaron Chin, Chief Executive Officer of senangPay said, “At senangPay, we aim to empower businesses with a complete payment ecosystem, Partnering with Pine Labs expands our offerings, equipping merchants with a strong tool to drive sales through instalment payments, Combined with our e-wallets, BNPL, FPX, and card payment solutions, this collaboration reinforces our mission to support local businesses with seamless digital transactions,”.
This partnership is another important step in SenangPay journey to improve digital payment experiences. By adding Pine Labs IPP solution SenangPay strengthens its role as a trusted local payment gateway offering solutions that help merchants succeed in the changing digital economy.
Murat Alikhanov, Chief Executive Officer at 1Fit said, “Our platform prioritizes flexibility, allowing members to join fitness and wellness classes without long-term commitments to a specific studio or program, With our app they can access classes anytime anywhere at their convenience,”.
This acquisition boosts it’s position in Malaysia and opens up opportunities for future payment innovations between Malaysian and Indonesian businesses further solidifying its role in the growing digital payment industry.
About SenangPay
SenangPay started as a simple tool to make online payments easier for Malaysians. Over time, it has become a complete payment hub, focused on excellence and continuous innovation in the ever-changing world of online payments.
