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Pine Labs partners UAE’s Wio Bank to build payment acquiring system

EntrackrEntrackr · 3d ago
Pine Labs partners UAE’s Wio Bank to build payment acquiring system
Medial

Pine Labs partners UAE’s Wio Bank to build payment acquiring system Fintech unicorn Pine Labs has partnered with UAE-based digital lender Wio Bank to build a new payment acquiring system for the bank. As part of the deal, Wio Bank will use Pine Labs’ acquiring platform, Credit+, to run its merchant payment operations. The partnership will help Wio Bank onboard merchants faster, offer real-time settlements, and support multiple payment modes across online and offline channels. Credit+ will manage the full merchant lifecycle, including onboarding, payment processing, and settlements, through a cloud-based and API-led setup. This will allow Wio Bank to launch new features quickly and handle large payment volumes securely. Wio Bank is a digital-first bank in the Middle East serving individuals and businesses. It is backed by ADQ, Alpha Dhabi, and First Abu Dhabi Bank. The partnership strengthens its payments offering for merchants in the region. For Pine Labs, the tie-up adds to its presence in the Middle East. The company works with banks and enterprises to modernise payment systems and currently operates across India, Southeast Asia, the Middle East, Africa, Australia, and the US. This development follows Pine Labs' successful acquisition of all three digital payment licences from the Reserve Bank of India (RBI). These licences cover offline payments, online merchant payments, and cross-border transactions, enabling the company to offer a complete range of digital payment services across all merchant interaction points. Pine Labs’ revenue increased to Rs 650 crore in Q2 FY26 from Rs 551 crore in the same quarter last year. Pine Labs reported a net profit of Rs 6 crore in Q2 FY26 versus a loss of Rs 32 crore in Q2 FY25.

Pine Labs-owned Setu to acquire 100% stake in Agya Technologies

EntrackrEntrackr · 9d ago
Pine Labs-owned Setu to acquire 100% stake in Agya Technologies
Medial

Pine Labs-owned Setu to acquire 100% stake in Agya Technologies Fintech unicorn Pine Labs plans to fully consolidate its ownership in RBI-licensed account aggregator Agya Technologies through its fintech infrastructure arm, Setu. According to a regulatory filing, the RBI has approved Setu (BrokenTusk Technologies Pvt Ltd) to increase its stake to 100% in Agya Technologies Pvt Ltd, which until now has operated as an associate company of Setu. Pine Labs already has around 25% stake in Agya Technologies and the company plans to complete the acquisition of the remaining stake in the near term, potentially in one or more tranches, according to the filing. This development follows Pine Labs' successful acquisition of all three digital payment licences from the Reserve Bank of India (RBI). These licences cover offline payments, online merchant payments, and cross-border transactions, enabling the company to offer a complete range of digital payment services across all merchant interaction points. On the financial front, Pine Labs’ revenue increased to Rs 650 crore in Q2 FY26 from Rs 551 crore in the same quarter last year. Pine Labs reported a net profit of Rs 6 crore in Q2 FY26 versus a loss of Rs 32 crore in Q2 FY25. Pine Labs made a positive debut on the public markets, listing at a 9.5% premium over its issue price. The stock opened at Rs 242 per share against the IPO price of Rs 221, giving the Peak XV-backed firm a stable start on the NSE and BSE. The company’s share is trading at Rs 240.85, giving it a market capitalization of Rs 26,406 crore (approx $2.9 billion).

Emirates NBD ties up with Pine Labs to strengthen merchant acquiring solutions

EntrackrEntrackr · 1y ago
Emirates NBD ties up with Pine Labs to strengthen merchant acquiring solutions
Medial

Fintech firm Pine Labs has partnered with Emirates NBD, one of the leading banking groups in the Middle East, North Africa and Turkey (MENAT), to bring world class payment acquiring solution to the region. As part of its growth plans, Emirates NBD is expanding its offering by leveraging Pine Labs’ Credit+ platform to deliver merchant acquiring processing solutions for its corporate and institutional clients, initially in the UAE then across the Kingdom of Saudi Arabia and Egypt. The expanded suite of solutions will empower the bank’s clients to improve their digital payment system for both online and instore payments. “We have built many retail payment solutions in India and these are very relevant in global markets. RTP, Online, Contactless, Token management, NFC all services included here. Couldn’t be more excited with global Fintech,” said Amrish Rau, CEO of Pine Labs. According to Rau, Pine Labs’ acquiring processing platform Credit+ is built for scale and is already live in more than 20 countries. Emirates NBD has presence in 13 countries, serving over 9 million active customers. The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 858 branches and 4,450 ATMs.

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