The deal adds checkout optimisation capabilities to Pine Labs’ existing payments infrastructure, allowing it to offer merchants a more integrated system across payment processing and customer experience.
The acquisition comes at a time when online merchants continue to face drop-offs between cart and payment due to issues such as payment failures, lengthy checkout flows and friction in discounting and prepaid transactions.
Shopflo, which works with over 1,000 brands, focuses on improving checkout efficiency and has reported conversion gains of 15–20% for merchants using its platform.
Pine Labs has been expanding its online payments business, with revenue in the segment growing about 50% year-on-year, as it adds clients across sectors such as hospitality, diagnostics and fitness.
With this acquisition, the company is looking to move beyond pure-play payments and build a broader commerce offering that combines payment processing with tools aimed at improving transaction completion rates.
Chief Executive Officer B Amrish Rau said merchants are increasingly seeking integrated solutions across offline and online channels, while Shopflo Co-founder Priy Ranjan said the partnership would help scale its product across a larger base.
The deal underscores a broader shift in the payments space, where firms are focusing on improving the full transaction journey rather than just enabling payment acceptance.
