Fintech unicorn Pine Labs has entered into a strategic partnership with UAE-based digital lender Wio Bank to build a next-generation payment acquiring system. Under the deal, Wio Bank—backed by powerhouses ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank—will deploy Pine Labs’ proprietary Credit+ platform to power its core merchant payment operations.

The collaboration aims to eliminate Wio Bank’s dependency on legacy technology, enabling the bank to offer real-time settlements, faster merchant onboarding, and seamless support for multiple payment modes across both online and offline channels.

Modernizing the Merchant Lifecycle with Credit+

Pine Labs’ Credit+ is an API-first, cloud-native platform designed for high transaction throughput and rapid feature deployment. By integrating this microservices-based architecture, Wio Bank can now manage the entire merchant journey—from automated onboarding and rule-based workflows to secure payment processing and clearing—within a single, scalable dashboard.

“Our partnership with Wio Bank brings a modern acquiring processing platform to one of the most innovative digital banks in the region,” said B. Amrish Rau, CEO of Pine Labs. “Credit+ is built to help banks move faster and scale reliably in a digital-first payments ecosystem.”

Jayesh Patel, CEO of Wio Bank PJSC, added: “This partnership strengthens our ability to deliver simpler, more efficient payment capabilities, allowing our customers to stay focused on running and growing their businesses.”

Pine Labs: A Year of Major Milestones

This partnership follows a streak of regulatory and financial successes for Pine Labs as it expands its global footprint:

• RBI Triple-Licence Milestone: In late 2025, Pine Labs became the first payment aggregator in India to secure all three key RBI licences: PA-Online, PA-Physical, and PA-Cross Border. This allows the firm to handle the full spectrum of domestic and international merchant transactions.

• Profitability Turnaround: In its first financial results post-listing, Pine Labs reported a net profit of ₹6 crore for Q2 FY26, a massive swing from the ₹32 crore loss recorded in the same period last year.

• Revenue Surge: Revenue from operations jumped 18% year-on-year to ₹650 crore, driven by robust growth in its issuing, affordability, and online payment business lines.

Global Presence

While primarily known for its dominance in India’s offline POS market, Pine Labs now operates across Southeast Asia, the Middle East, Africa, Australia, and the US. The tie-up with Wio Bank significantly strengthens its “Acquiring-as-a-Service” vertical in the high-growth Middle Eastern market.

By: Vanshika Tayal