Qfix is known to be an end-to-end cloud-based platform. It delivers integrated online billing and payments services to several sectors.
What is Pine Labs?
PineLabs, one of the leaders in merchant commerce platforms, announced on February 8th that Qfix Infocomm, an online payment startup based in Mumbai, was acquired by it. More on the same is in the paragraphs that follow.
Acquiring QFix by Pine Labs
Although the company Pine Labs has revealed that it has acquired QFix payment, the deal’s terms and details have not been declared. At present, there are more than 5000 merchants associated with the QFix payment platform, and merchants include HDFC Bank, clubs, governments, and educational institutions. According to Pine Labs, in a media release, the leading distribution partner is HDFC Bank.
Amrish Rau, the chief executive officer of Pine Labs, while speaking about the acquisition, said that the company is happy to welcome the Qfix team and that with the help of Qfix’s innovations, smart invoicing solutions, billing tools, and workflow management skills, would be of immense help and would offer a commerce platform and complete merchant payments.
Venugopal Choudhary, the MD of QFix Infocomm Pvt. Ltd said they are thrilled to enter into this association with Pine Labs. This acquisition would foster further growth and momentum and enable them to cater to the multiple sectors that would need commerce and online payment solutions that will be secure faster seamless.
In October 2021, Pine Labs announced that it had entered into the online payment arena as Pinelabs online payment after launching Plural Gateway, Plural Console, and Plural Checkout.