Pine Labs takes dig at Paytm's front-page ad

Pine Labs’ promotional tactics are being questioned after its latest tweet on X. In the post, the fintech company wrote, “The front page can be bought. Trust cannot,” taking an indirect dig at competitor Paytm.

Paytm has been facing challenges with its functionality ever since RBI announced that Paytm Payments Bank cannot accept deposits or top-ups into customer accounts, prepaid instruments, FASTags after February 29, 2024, due to non-compliance. Following this, some users speculated that Paytm QRs and merchant sound boxes would become dysfunctional by March. However, RBI’s actions against the fintech company will not affect the functioning of QR and merchant soundboxes.

To quash the rumour, Paytm advertised on the front pages of newspapers, stating “India’s every Paytm QR and Soundbox will keep working. Today. Tomorrow. Always.”

Pine Labs’ tweet about the front page being able to be bought did not sit well with many marketers. In addition, the tweet was captioned with “The ultimate in-store payments suite that India trusts. Presenting the range of fully compliant Pine Labs solutions that enable 1 Million businesses across India to run their business seamlessly.”

https://www.linkedin.com/company/pinelabs/posts/?feedView=all

Jaskaran Singh Kapany, Paytm’s former CEO, called out Pine Labs for its bullish advertising. In a LinkedIn post, he termed the ad “immature” and “unclassy”.

https://www.linkedin.com/feed/update/urn:li:activity:7165586266623856641/

Vaibhav Pawar, marketing head at Pioneer Investocorp, reminded that successful advertising is possible without resorting to such tactics. He questioned, “While differentiation is crucial, is it ethical to capitalise on a competitor's challenges to gain market share?... Could Pinelabs have slayed their creative game without hinting at Paytm? Absolutely, if you asked me. ”

Despite the debates, Pine Labs continued with its promotional tactics. The company’s LinkedIn account posted a series of brand logos that use their services, which culminated in a final post that said, “If we keep doing this it will take a million posts.”

https://www.linkedin.com/company/pinelabs/posts/?feedView=all

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