StopDownOpen the app

Partnership · Financial Services

Pine Labs partners with Wio Bank to build payment infrastructure

By ·

Pine Labs logo
Date
Company
Pine Labs
What it does
Payment technology provider for merchants
Kind
Partnership
Founded
1998
Sector
Financial Services

What they do

Pine Labs provides software and backend tech for financial institutions globally

What happened

It signed a pact with UAE-based Wio Bank to deploy its Credit+ platform

Why it matters

The deal aims to replace legacy systems and enable faster merchant onboarding

The details

  • Pine Labs signed a partnership pact with UAE-based Wio Bank.
  • The agreement focuses on building next-generation payment acquiring infrastructure.
  • Wio Bank will deploy Pine Labs’ proprietary Credit+ platform for core operations.
  • This move aims to eliminate Wio Bank’s dependency on legacy technology.
  • The new system supports automated onboarding and rule-based workflows.
  • It enables real-time settlements and seamless multi-mode payment support.
  • Pine Labs operates across India, Southeast Asia, the Middle East, Africa, Australia, and the US.
  • The company provides software and backend tech for international financial institutions.

The bigger picture

  • The partnership highlights Pine Labs' expanding role in global fintech infrastructure.
  • Wio Bank seeks modern solutions to scale its merchant services efficiently.
  • Pine Labs recently achieved an RBI triple-licence milestone in late 2025.
  • This deal underscores growing cross-border collaboration between Indian and UAE firms.

About the business

  • Pine Labs offers card-based payment and loyalty solutions for merchants.
  • Its product suite includes PoS terminals and payment gateways.
  • The company provides BNPL solutions for consumer credit needs.
  • It handles issuing and acquiring for credit, debit, prepaid, and forex cards.
  • Pine Labs also manages employee incentives and corporate loyalty programmes.
  • Its international issuing and wallet business grew 35% YoY in Q2 FY26.
  • India’s domestic business saw 31% YoY growth during the same period.
  • The firm focuses on API-first, cloud-native microservices architecture.
  • It processes secure payments through online and offline channels.

What happens next

  • Pine Labs continues to expand its global footprint in fintech.
  • Wio Bank plans to scale merchant onboarding using the new platform.

The deal

Type
partnership

Investors

  • ADQ (backer) — Abu Dhabi government-owned investment group.
  • Alpha Dhabi (backer) — Financial services arm of Alpha Dhabi Holding.
  • e& (backer) — Formerly Etisalat Group, a major telecom operator.
  • First Abu Dhabi Bank (backer) — One of the largest banks in the UAE.

Founders

  • Lokvir Kapoor, Founder
  • Tarun Upadhyay, Founder
  • Rajul Garg, Founder

Other articles talking about it

Read it as a card in the app

More on Pine Labs

Everything on Pine Labs →

Same day

All startup news on 26 January 2026 →