Pine Labs announced an investment from Mastercard on January 24, 2020, alongside a partnership covering electronic payments and installment financing. The companies did not disclose the financial terms of the investment.

The collaboration included stored-value services intended to replace paper-based arrangements used by businesses, retailers and consumers. Pine Labs' platform issued, processed and distributed digital gift cards for corporate customers, alongside payment acceptance and consumer-credit tools.

At the time, Pine Labs reported processing approximately $30 billion in payments annually and serving around 140,000 merchants through about 450,000 network points. Its operations covered India, Southeast Asia and the Middle East.

The partners planned to combine Pine Labs' merchant technology with Mastercard's network and infrastructure, supporting installment options at online and physical checkouts. Pine Labs worked with financial institutions involved in designing and providing that financing. The announcement documented the partnership's scope and company-reported scale in January 2020.