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Honda 2Wheelers signs MoU with Pine Labs

Honda 2Wheelers signs MoU with Pine Labs

New Delhi, Feb 14 (UNI) Honda Motorcycle & Scooter India Pvt. Ltd. on Friday signed a Memorandum of Understanding (MoU) with merchant commerce platform - Pine Labs.

The new Pine Labs POS machines available across Honda dealerships will now provide a new purchase solution to debit and credit card holders by way of convenient and affordable EMIs (equated monthly installment).

The new alliance which empowers cardholders of 14 credit and 6 debit cardholders, was formalized by Yadvinder Singh Guleria, Senior Vice President – Sales & Marketing, HMSIPL, Mr. Kush Mehra, Chief Business Officer, Pine Labs and Mr. Venkat Paruchuri, Chief Product Officer, Pine Labs along with other dignitaries.

Usually, applying for loans to buy a 2Wheeler involves two charges – down payment and hypothecation fee, the latter also troubles the customer at the time of loan completion. The consumer needs to produce a ‘no objection certificate’ from his bank, and later pay and arrange for hypothecation removal at the Registration Authority.

"With Honda’s new MoU with Pine Labs, customers are now assured of extra benefits like zero-down payment, no documentation and waiting time, zero hypothecation fee or no N.O.C certificate by respective bank. Pine Labs’ EMI on POS payment facility empowers cardholders to choose from multiple tenure options while opting for EMI-based purchase of Honda 2Wheelers," a statement said here.

With every 2nd two-wheeler customer now buying a two-wheeler under retail finance, the new EMI on Pine Labs POS significantly cuts down on time and documentation hassles while parallely enhancing customer buying experience with the joy of instant delivery. Exclusively, under this scheme, SBI Credit cardholders can avail cashback of 5 pc up to Rs. 4,000 valid till 29th February 2020 on a minimum purchase of Rs. 40,000.


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