India-based payments technology company Pine Labs has partnered with UAE digital bank Wio Bank to build a modern acquiring infrastructure aimed at faster settlements and scalable payment processing.
The partnership reflects a growing trend where digital banks are choosing flexible, cloud-native platforms instead of traditional acquiring systems.
A New Acquiring Setup Built for Speed and Scale
Under the agreement, Pine Labs will develop a cloud-native acquiring framework for Wio Bank that focuses on operational efficiency and real-time payments.
What the New Infrastructure Will Offer
The upcoming system is expected to deliver:
- Quicker merchant onboarding
- Real-time settlement of transactions
- Support for multiple payment modes
- Ability to scale payment volumes smoothly
This setup will allow Wio Bank to expand its merchant acquiring business without being held back by legacy technology.
Wio Bank Chooses Pine Labs’ Credit+ Platform
As part of the partnership, Wio Bank will use Pine Labs’ issuing and acquiring platform, Credit+, to run its core acquiring operations.
Why Credit+ Matters for Digital Banks
Credit+ is designed to help banks:
- Manage high transaction volumes efficiently
- Strengthen compliance and control mechanisms
- Adapt quickly to changing payment needs
According to Pine Labs, the platform’s modular design enables banks to upgrade their payment systems without major disruptions.
Pine Labs Expands Its Global Payments Footprint
The deal with Wio Bank comes as Pine Labs continues to push beyond the Indian market.
Presence Across Key International Markets
Apart from India, Pine Labs now operates in:
- Southeast Asia
- Australia
- United Arab Emirates
- United States
Outside India, the company is increasingly focused on payment software and infrastructure, working behind the scenes with banks and large financial institutions.
International Business Shows Faster Growth
Pine Labs’ overseas operations are gaining traction.
Strong Performance in Q2 FY26
During Q2 FY26, the company’s international issuing, prepaid, and wallet infrastructure business grew 35% year-on-year, outpacing its India growth of 31%.
This suggests rising demand for Pine Labs’ payment platforms in global markets.
How Pine Labs Evolved Into a Payments Infrastructure Provider
Founded in 1998 by Lokvir Kapoor, Tarun Upadhyay, and Rajul Garg, Pine Labs started with card-based payment and loyalty solutions for fuel retail outlets.
Expansion Over the Years
Over time, the company expanded into:
- Point-of-sale terminals and payment gateways
- Buy Now, Pay Later (BNPL) solutions
- Issuing and acquiring platforms for banks
Today, Pine Labs supports financial institutions in issuing credit, debit, prepaid, and forex cards, along with managing loyalty and incentive programmes.
Pine Labs Turns Profitable in Q2 FY26
On the financial side, Pine Labs reported a return to profitability in the second quarter of FY26.
Key Financial Numbers
- Net profit: ₹6 crore
- Net loss in Q2 FY25: ₹32 crore
- Operating revenue: ₹649.9 crore
- Revenue growth: 18% year-on-year
The improvement was driven by stronger operational performance and higher contribution from international markets.
Why This Partnership Is Important for Banking and Fintech
The Pine Labs–Wio Bank collaboration highlights a broader shift in banking technology.
Key Takeaways
- Digital banks are moving toward cloud-based acquiring systems
- Modular payment platforms are replacing rigid legacy infrastructure
- UAE continues to emerge as a fintech innovation hub
- Indian payments companies are playing a larger role globally
