Pine Labs takes a swipe at Paytm's front page ad
The post has received polarising reactions on social media, with some praising it and others criticising for kicking a rival when its down
After beleagured payment app Paytm posted a frontpage ad on February 19, rival payment merchant Pine Labs took a veiled jibe at the former with an ad of its own: “The front page can be bought. Trust cannot.”
The jibe alluded to Paytm's recent trouble with the RBI caused by the platform's failure to comply with regulations despite repeated warnings.
1 Million businesses across India count on Pine Labs to power their business in-store, one transaction at a time.
— Pine Labs (@PineLabs) February 20, 2024
Explore the range of our in-store solutions: https://t.co/VBBY9kIZVs
.
.#IndiaTrustsPineLabs #Payments #Fintech pic.twitter.com/Vceqi2k9X5
Ironically, despite slinging mud at its rival, Pine Labs has been promoting the post on social media, turning it essentially into an ad.
On February 19, Paytm published a front page ad on a leading news paper stating their omnipresence across the country with the Sound box and QR codes. It caused Pine Labs to take a potshot at Paytm with a competitive campaign.
Amidst ongoing challenges for Paytm, the RBI's recent actions have added to the company's woes. Effective January 31, 2024, the central bank prohibited Paytm Payments Bank from accepting deposits, credit transactions, or top-ups in customer accounts. Furthermore, on March 15, other banking services, including UPI facilities and fund transfers, will be halted for the platform.
According to Piali Dasgupta, Senior Vice President – Marketing, Columbia Pacific Communities, "The Pine Labs campaign on social media reminds one of the Make My Trip ad on the front page of a leading daily, back in October 2023 addressing Pakistani cricket fans during the World Cup. Yes, the context was different; MMT was not taking potshots at any of its competitors. But it was the same uncouth attack on an opponent. Pine Labs could have done better. The tonality of the ad was inappropriate. There is a certain way of taking potshots at an opponent. Burger King does it beautifully with Mc Donald’s. In this case, Pine Labs is the older player; they were founded 12 years before Paytm. Therefore, a level of maturity is expected of them."
The post has recieved polarising opinions on social media, with some praising it and others criticising for kicking a rival when its down.
PineLabs woke up & chose violence ?#IndiaTrustsPineLabs pic.twitter.com/gpo8XeT4pL
— Jakera Choudhury (@JakeraChoudhury) February 20, 2024
The key of marketing is not using the right platform. But competing with your competitor with a strong message!! Wow#IndiaTrustsPineLabs #selfish #PaytmKaro #PaytmPaymentsBank pic.twitter.com/2IIjO2T0s4
— Abhijeet Devadiga (@abhijeetdevdiga) February 20, 2024
Gutsy campaign by @PineLabs#IndiaTrustsPineLabs pic.twitter.com/9bxQnmJq6u
— Amith P ?? #PRAXIS11 is in Pune Sept 20-22, '24 (@amithpr) February 20, 2024
