Pine Labs Expands Payment Solutions with Wio Bank Partnership

Pine Labs has teamed up with the UAE digital lender Wio Bank to develop a cutting-edge payment acquiring system. This collaboration will see Wio Bank implement Pine Labs’ acquiring platform, Credit+, to efficiently manage its merchant payment operations.

Enhancements for Merchant Payment Operations

This partnership is designed to expedite the onboarding process for merchants, facilitating real-time settlements and accommodating various payment methods in both online and offline environments. Credit+ will oversee the entire merchant lifecycle, from onboarding to payment processing and settlements, all through a cloud-based and API-driven framework. Consequently, Wio Bank will be able to introduce new features swiftly and manage substantial payment volumes securely.

Profile of Wio Bank

Wio Bank stands as a pioneering digital bank in the Middle East, catering to both individual customers and businesses. It receives backing from notable entities such as ADQ, Alpha Dhabi, and First Abu Dhabi Bank. This partnership will significantly enhance Wio Bank’s payment solutions for merchants in the region.

Pine Labs’ Regional Growth

For Pine Labs, this alliance bolsters its foothold in the Middle East. The company collaborates with banks and enterprises to modernise payment systems and has an extensive operational reach across India, Southeast Asia, the Middle East, Africa, Australia, and the US.

Recent Developments for Pine Labs

This announcement comes in the wake of Pine Labs’ successful acquisition of three digital payment licenses from the Reserve Bank of India (RBI). These licenses encompass offline payments, online merchant payments, and cross-border transactions, allowing Pine Labs to provide a comprehensive suite of digital payment services throughout various merchant interaction points.

Financial Performance

In financial updates, Pine Labs reported a revenue increase to Rs 650 crore in Q2 FY26, up from Rs 551 crore in the same quarter the previous year. Additionally, Pine Labs achieved a net profit of Rs 6 crore in Q2 FY26, a significant improvement compared to a loss of Rs 32 crore in Q2 FY25.