Google Wallet joins hands with India's Pine Labs to help manage gift cards within app

Fintech firm Pine Labs has partnered with Google Wallet to enable a seamless integration of Gift Cards on the product.

The partnership comes a few weeks after Google launched its much-awaited Google Wallet app in India. It allows users to manage Gift Cards directly within the Google Wallet app on Android devices. 

Users will be able to store and manage their Gift Cards within Google Wallet and receive reminders to use them at the point of purchase.

How will it benefit users?

The partnership aims to offer a way for users to manage Gift Cards directly within the Google Wallet app.

According to the company's statement, the seamless integration of Gift Cards will enable users to store and manage their Gift Cards within the app, receiving intuitive reminders to use them at the point of purchase.

Navin Chandani, President - Issuing Business at Pine Labs, said, “Pine Labs is delighted to partner with Google India to enable Gift Cards integration with the Google Wallet app. In recent years, we have witnessed a seismic shift in the way merchants have embraced digital modes of payments."

"Considering the huge Android user base in the country, we anticipate a sharp jump in the usage of Gift Cards as more retailers and brands will now look to leverage it in their omnichannel strategy to expand their customer base, improve customer experience, retention, and loyalty," Chandani said.

Gift Cards market in India

The 'power of choice' associated with e-gifting appeals to young consumers, making brands in India constantly look to cater to this important and growing consumer base.

Many exciting Gift Card use cases, such as issuing refunds, credit notes, and promotional offers, have emerged as growth drivers that offer brands the opportunity to foster customer loyalty and build long-lasting engagement.

The Gift Cards market in India is expected to increase from US$7.6 billion in 2023 to US$15.7 billion by 2028, as per a report by Research and Markets.

A frictionless Gift Card usage experience enabled by this exclusive partnership between Google Wallet and Pine Labs will provide unprecedented ease and convenience to existing and new users and will eliminate the complexity around usage.

Impact on the fintech and digital payments landscape

Pine Labs' issuing business offers end-to-end capabilities to businesses across diverse industry verticals to issue, process, distribute, and manage prepaid cards.

Notably, the company's business is now expanding to Southeast Asia, Australia, the USA, and the UAE. It is also one of the top merchant commerce omnichannel platforms operating across India, the Middle East, and Southeast Asia.

Google highlights the significance of Google Wallet

Highlighting the significance of this launch in bringing new levels of convenience for Android users across the country, Ram Papatla, GM & India Engineering Lead, Android at Google, said, “The arrival of Google Wallet in India marks an important milestone in Android's India journey, bringing innovative and convenient experiences to simplify peoples' daily lives. We are delighted to partner with many of India's top brands to offer a comprehensive solution that helps you securely access and manage your everyday essentials. From boarding passes to loyalty, gift cards, and event tickets to public transport passes – they're there when you need them.”

Google Wallet, initially launched in 2011 as a US mobile payment system, became Android Pay in 2015.

In 2018, Google merged Wallet and Android Pay into Google Pay. In 2022, Google reintroduced Wallet as a separate app for storing cards online, complementing the Google Pay platform.