Pine Labs Partners with Wio Bank to Develop Acquiring Infrastructure in UAE

Wio Bank and Pine Labs have reached an agreement for Pine Labs to construct an acquisition infrastructure for the digital bank located in the United Arab Emirates. Pine Labs stated in a filing with the exchanges that the forthcoming cloud-native platform will provide multi-mode payment acceptance at scale, real-time settlement capabilities, and quicker merchant onboarding.

In order to manage its primary acquisition operations, Wio Bank will use Pine Labs' issuing and acquiring platform, Credit+. According to the domestic fintech, Wio Bank will be able to increase payment volumes and improve compliance with Credit+.

How Pine Labs Partnership will Digital Banking in the Region?

According to Pine Labs CEO Amrish Rau, the collaboration with Wio Bank gives one of the area's most creative digital banks access to a cutting-edge acquisition processing platform. This partnership demonstrates how banks can scale dependably, develop more intelligently, and move more quickly in a digital-first payments ecosystem with the support of a modular acquisition stack.

The collaboration occurs at a time when Pine Labs has accelerated its global growth. The listed fintech giant currently operates in the US, Southeast Asia, Australia, and the United Arab Emirates in addition to its home market. The company's main focus abroad is software, and it wants to be a backend tech partner for major financial institutions. As a result, the startup's international issuance, prepaid, and wallet infrastructure business expanded 35% YoY in Q2 FY26, surpassing India's 31% YoY growth.

Pine Labs’ Journey and Financial Outlook

Pine Labs was established in 1998 by Lokvir Kapoor, Tarun Upadhyay, and Rajul Garg as a provider of card-based payment and loyalty solutions targeted at the retail petroleum sector. Since then, it has grown to include buy-now-pay-later (BNPL) solutions, payment gateways, and point-of-sale (PoS) terminals.

Additionally, the company provides financial institutions with solutions for issuing and purchasing credit cards, debit cards, prepaid cards, and foreign exchange cards to customers. Furthermore, it runs an acquiring and issuing platform that lets its customers handle loyalty programmes, staff incentives, and prepaid cards.

In terms of finances, the fintech giant turned a profit in Q2 FY26, reporting a net profit of INR 6 Cr compared to a net loss of INR 32 Cr in the same period last year. During the reviewed quarter, operating revenue increased 18% year over year and 6% quarter over quarter to INR 649.9 Cr.