Mastercard and Pine Labs announced plans on December 9, 2020 to expand their installment-payment service into five Southeast Asian markets. Thailand and the Philippines were scheduled for February 2021, with Vietnam, Singapore and Indonesia to follow.

The expansion built on an existing relationship in India and Malaysia. The companies said their system would support installments funded through credit cards, debit cards and bank accounts, serving both store-based and online merchants through a common connection.

Pine Labs also operated stored-value services, including issuance and distribution of digital gift cards for corporate customers. At the time of the announcement, the company reported more than $30 billion in annual payments and approximately 150,000 merchants across 450,000 network points.

The partners positioned the rollout around consumer demand to spread payments for larger purchases. Their announcement described a planned expansion and product capabilities; it did not report completed launches in all five markets or establish eligibility for every consumer transaction.