Pine Labs eyes Asia operations of sinking Wirecard
"Multiple other players have also expressed interest in the company's assets in the region," said a person aware of the conversation. We wouldn't like to comment on this topic," Amrish Rau, CEO of Pine Labs said. "There is also concern that Wirecard may lose customers during any process of migration due to these proceedings. Wirecard had in 2015 paid an estimated $300 million to acquire the payments business of Indian ecommerce player Great India Retail, the Financial Times said.Pine Labs has had partnerships with Wirecard for its India business, sources said. Apart from its payment deployment business in India, Pine Labs also has a strong presence in the merchants payment space in Malaysia and Singapore.