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Startups

India's fintech unicorns eye Southeast Asia expansion

Startups nurtured by huge market will confront local giants in new frontier

Indian startups are targeting young Southeast Asian consumers with "buy now, pay-later" services. (Source photos by Kosaku Mimura and company websites.)

TOKYO -- India's most valuable financial technology startups are entering Southeast Asia, bringing a fresh wave of competition for a slice of the region's young shoppers.

Pine Labs, a provider of point-of-sale terminals to retailers, said it was valued at $3 billion in a funding round last month. The company recently began offering a "buy now, pay later" service to retailers in Malaysia, letting customers pay in installments with zero interest rates using their credit card. Pine Labs takes a cut from the payments, as well as a fee from the bank that issues the card for using its software to process the transaction.

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