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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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