Pine Labs, one of Asia’s leading merchant commerce platforms today announced the appointment of Nitish Asthana as the President & Chief Operating Officer (COO). Joining the company’s leadership team, Nitish will focus on accelerating the company’s efforts towards technology innovation and increasing digital payment acceptance among merchants across India and Southeast Asia.

With more than two decades of experience in senior executive roles across payments, fintech and finance areas, prior to joining Pine Labs, Nitish was Managing Director, India and Sri Lanka First Data Corp, Fiserv. There he led businesses across merchant payments, merchant acquiring services, cards issuing processing and banking technology solutions. Previously, he served as the APAC head of First Data’s merchant payments business across 9 countries besides leading the start-up of two large life insurance companies – Bharti AXA Life and Aviva, as a founding leader at both JV firms. His early career was with Standard Chartered and Citibank in their respective consumer banking units.

 “Nitish brings with him a wealth of experience in the payment and fintech space. He is one of the classic successful executives, who is cut out for an entrepreneurial journey. At Pine Labs, we are on a mission to re-define merchant payments and commerce and Nitish’s diverse knowledge and insights will play a pivotal role in accelerating innovation within the company and ensure operational excellence. We are excited to welcome Nitish to the Pine Labs family.”

Commenting on his appointment, B Amrish Rau, CEO, Pine Labs, said

Nitish Asthana
President & COO

Nitish Asthana has over 22 years of experience in senior executive roles across payments, fintech, insurance and banking with large multinationals.

Nitish last served as Managing Director- India & Sri Lanka at First Data Corporation and Fiserv Inc (FDC merged with Fiserv Inc in July 2019), where he led businesses across merchant payments/acquiring, cards issuing processing and banking technology. He was instrumental in building ICICI Merchant Services (a Fiserv JV with ICICI Bank) to a market-leading franchise in revenue growth, profitability and scale.

Previously, he served as the APAC head of First Data’s merchant payments business across 9 countries and based in Singapore. He has also served as General Manager of First Data’s JV with ICICI in India and as the Head of Ventures, focusing on corporate development, partnerships, and M&A.

Nitish has led the start-up of two large life insurance companies- Bharti AXA Life and Aviva, as a founding leader at both JV firms. He led the establishment of the distribution platforms in Bancassurance, telecom- insurance and agency channels, led the founding partnerships with banks and corporates, and led the launch of new products. He also served as Director- Bancassurance and Partnerships at Metlife India, leading the dominant distribution channels for the company.

His early career was at Standard Chartered and Citibank in their respective consumer banking units.

Nitish holds a PGDM from IIM Lucknow and B.Com (Honours) from SRCC, Delhi University.

“I am very excited to join Pine Labs at a time when the company is witnessing tremendous growth in India and beginning to expand its footprint to newer markets, especially in Southeast Asia. With a spike in digital payments adoption post-COVID-19, the environment is right to take innovative fintech products to the remotest corners of the country and accelerate the Digital India vision. I am confident that Pine Labs is well placed to drive this transformation and I look forward to strengthening the credibility and trustworthiness amongst all the stakeholders in the ecosystem.”

Nitish Asthana, President & COO, Pine Labs, said,

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