Pine Labs partners ICICI Bank to enable Digital Rupee on PoS terminals

Merchant commerce platform Pine Labs announced the acceptance of the digital Rupee on its PoS (point-of-sale) terminals in partnership with ICICI Bank. The technology integration between the two entities will now support Digital Rupee acceptance at Pine Labs’ point-of-sale terminals across key retail outlets in Mumbai and Bengaluru.

Pine Labs’ execution of the Digital Rupee payment process is completely digital via dynamic QR (quick response) built within its smart Android PoS terminals.

“CBDC (central bank digital currency) and Digital Rupee open up exciting opportunities,” said B Amrish Rau, chief executive officer of Pine Labs.