Mastercard Installments with Pine Labs: Mastercard and Pine Labs offer Filipino consumers more flexibility with cashless payment options

April 18, 2022 | Manila, Philippines
Shop and enjoy your purchases with interest-free monthly installments across a wide network of merchants, anywhere you see Pay Later

To meet growing consumer demand for more flexible payment options, Mastercard and Pine Labs have partnered to launch Mastercard Installments with Pine Labs. The new program will offer Filipino credit cardholders the flexibility to pay in interest-free monthly installments with their enrolled bank’s credit card anywhere they see the Pay Later identifier. Cardholders are not required to sign-up, and the program is available at local in-store merchants, and will subsequently expand to include online and cross-border merchants.

The Mastercard Installments with Pine Labs program is payment network agnostic. This means consumers can pay in interest-free monthly installments with any credit card at establishments where they see the Pay Later identifier, as long as their issuing bank is enrolled. In the future, consumers will also be able to pay in installments with their debit cards and even directly from their bank account through their mobile banking app.

This installment program supports Philippine’s drive towards a cash-lite and eventually cashless society. In addition, it also provides consumers with greater control to manage their finances as they can split large purchases into interest-free monthly installments.

The Philippines is first among five Southeast Asian markets that will offer the Mastercard Installments with Pine Labs program. Consumers can currently access the program at over 20 merchant locations including selected Mandaue Foam, iSwitch, Autohub and CYA outlets (exclusive distributor of quality home appliance brands like Ariston, Fabriano, Indesit, Mabe, Blueair and others).

At present, there are seven banks in the Philippines whose cardholders will be enrolled in the program. Security Bank Corporation was the first issuer to pilot the program, and in the pipeline are Asia United Bank, China Banking Corporation, Land Bank of the Philippines, Metropolitan Bank & Trust Co, Philippine National Bank and Rizal Commercial Banking Corporation.

“We’re honored to be the first bank to offer Mastercard Installments with Pine Labs for its customers. Tapping into the expertise of Mastercard and Pine Labs allows us to easily integrate and scale our installment offerings. Having a single access point into an installment network also makes reaching more merchants a lot simpler. This value proposition is aligned with our commitment to provide customer-centric solutions and BetterBanking experiences,” says Maki Tingson, EVP and Head of Retail Banking Segment, Security Bank Corporation.

Mastercard is committed to enabling advances in the payments ecosystem and fostering a more inclusive digital economy for everyone, everywhere. The Mastercard Installments with Pine Labs program delivers on that promise, combining the expertise and technology assets of Mastercard and Pine Labs, one of Asia’s leading merchant commerce platforms.

“Our furniture business grew leaps and bounds post the COVID-19 pandemic. We witnessed a surge in the sale of ‘work from home’ furniture items. Whilst people were spending more on home furniture, we also observed a new trend where there was a growing interest in installment purchase of these items. The Mastercard Installments with Pine Labs program has meant that we now have more credit card installment offers, and therefore more customers can now avail easy and quick installment options at the time of purchase. This is certainly having a positive impact on our business”, said a spokesperson from Mandaue Foam Management.

For businesses that are interested in offering Pay Later as a payment option for customers, please send an email to and a representative from Pine Labs will get in touch. 

Related Content: Mastercard, DBS Bank and Pine Labs offer consumers a new payment option in multiple Asian cities (March 1, 2022)

Media Contacts

Kim Tan, Mastercard
+65 9879 1324 |
Danielle Lambo, Green Bulb PR
+63 939 913 6233 |
Sunil Param, Pine Labs
+91 9811 997090 |

About Pine Labs

A leading merchant commerce platform, Pine Labs serves prominent large, mid-sized and small merchants across India and Southeast Asia. The company's leading cloud-based software platform enables it to offer a wide range of payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. In April 2021, Pine Labs acquired Fave, a consumer fintech platform that provides a smart payment app to the smart generation of consumers looking to pay and save. Fave is currently available in Singapore, Malaysia and Indonesia with a planned roll-out in India in the near term. Incorporated in Singapore, Pine Labs' key investors include Sequoia India, Actis Capital, Temasek, PayPal and Mastercard. To know more, please visit

About Mastercard (NYSE: MA)

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.