Indian fintech unicorn Pine Labs has entered into a strategic partnership with UAE-based digital lender Wio Bank to build a new payment acquiring system aimed at enhancing merchant payment services. Under the agreement, Wio Bank will deploy Pine Labs’ acquiring platform, Credit+, to manage and operate its merchant payment operations across channels.
The collaboration marks a significant step for both companies as they focus on delivering faster, more efficient, and scalable payment solutions for businesses operating in the Middle East’s rapidly evolving digital economy.
Credit+ to Power End-to-End Merchant Operations
As part of the partnership, Wio Bank will use the Credit+ platform to manage the complete merchant lifecycle. This includes merchant onboarding, transaction processing, and settlements, all through a cloud-based and API-driven architecture. The setup is designed to ensure operational efficiency while maintaining high standards of security and reliability.
By adopting this infrastructure, Wio Bank aims to reduce onboarding timelines for merchants and enable real-time settlements. The system also supports multiple payment modes, allowing merchants to accept payments across both online and offline channels through a unified platform.
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Faster Innovation and High-Volume Processing
The cloud-native design of Credit+ will allow Wio Bank to roll out new features quickly and adapt to changing merchant requirements. The API-led approach is expected to help the bank handle large transaction volumes securely, an essential requirement as digital payments continue to grow across the region.
This technological framework positions Wio Bank to scale its merchant payments business efficiently while maintaining seamless integration with existing banking services.
Strengthening Wio Bank’s Merchant Offering
Wio Bank operates as a digital-first bank in the Middle East, serving both individuals and businesses through a technology-led banking model. The bank is backed by ADQ, Alpha Dhabi, and First Abu Dhabi Bank, giving it strong institutional support in the region.
The partnership with Pine Labs strengthens Wio Bank’s payments proposition for merchants by combining banking services with a modern acquiring solution. This is expected to improve the overall merchant experience by offering faster settlements, flexible payment acceptance, and simplified payment management.
Expanding Pine Labs’ Footprint in the Middle East
For Pine Labs, the tie-up with Wio Bank adds to its growing presence in the Middle East. The company works with banks and enterprises to modernise payment systems and currently operates across multiple markets, including India, Southeast Asia, the Middle East, Africa, Australia, and the United States.
By partnering with a digital-first bank like Wio, Pine Labs is reinforcing its strategy of working closely with financial institutions to upgrade payment infrastructure and support merchant-led growth in key international markets.
Recent Regulatory Milestone in India
The development comes soon after Pine Labs achieved a major regulatory milestone in India by acquiring all three digital payment licences issued by the Reserve Bank of India. These licences cover offline payments, online merchant payments, and cross-border transactions.
With these approvals in place, Pine Labs is now authorised to offer a comprehensive suite of digital payment services across all merchant touchpoints, further strengthening its capabilities as a full-stack payments provider.
Improving Financial Performance
Alongside its international expansion and product partnerships, Pine Labs has also shown improvement on the financial front. The company reported revenue of Rs 650 crore in the second quarter of FY26, up from Rs 551 crore in the same quarter of the previous financial year.
Pine Labs also reported a net profit of Rs 6 crore in Q2 FY26, compared to a net loss of Rs 32 crore in Q2 FY25. The turnaround reflects stronger operational performance as the company continues to scale its payments and merchant services business.
Positioned for Growth in a Digital Payments Market
The partnership between Pine Labs and Wio Bank highlights the growing focus on robust, technology-driven payment systems in the Middle East. As digital banking adoption accelerates across the region, collaborations that combine banking expertise with advanced payment platforms are expected to play a key role in shaping the future of merchant payments.
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