Pine Labs said that the infrastructure will enable faster merchant onboarding, real-time settlement capabilities and multi-mode payment acceptance for Wio Bank

Under the partnership, Wio Bank will deploy Pine Labs’ issuing and acquiring platform Credit+ to run its core acquiring operations

Pine Labs swung to the black in Q2 FY26 and posted a net profit of INR 6 Cr, while operating revenues jumped 18% YoY to INR 649.9 Cr

Listed fintech major Pine Labs has signed a pact with Wio Bank to build an acquiring infrastructure for the UAE-based digital bank.

In a filing with the exchanges, Pine Labs said that the upcoming cloud-native framework will offer faster merchant onboarding, real-time settlement capabilities and multi-mode payment acceptance at scale.

Under the partnership, Wio Bank will deploy Pine Labs’ issuing and acquiring platform Credit+ to run its core acquiring operations. The homegrown fintech added that Credit+ will enable Wio Bank to scale payment volumes and strengthen compliance.

“Our partnership with Wio Bank brings a modern acquiring processing platform to one of the most innovative digital banks in the region… This collaboration reflects how a modular acquiring stack can help banks move faster, iterate smarter, and scale reliably in a digital-first payments ecosystem,” said Pine Labs CEO Amrish Rau.

The partnership comes at a time when Pine Labs has pushed the pedal on its international expansion. Besides its home market, the listed fintech major now operates across Southeast Asia, Australia, the UAE and the US. Overseas, the company is primarily focussed on software offerings and is looking to be the backend tech partner for big financial institutions.

On the back of this, the startup’s international issuing, prepaid and wallet infrastructure business grew 35% year-on-year (YoY) in Q2 FY26, even faster than India’s 31% YoY.

Founded in 1998 by Lokvir Kapoor, Tarun Upadhyay and Rajul Garg, Pine Labs initially started as a card-based payment and loyalty solutions provider focussed on the retail petroleum industry. It has since expanded to selling point-of-sale (PoS) terminals, payment gateways, and buy-now-pay-later (BNPL) solutions.

The company also offers issuing and acquiring solutions to financial institutions, enabling issuance of credit cards, debit cards, prepaid cards and forex cards to consumers. It also operates an issuing and acquiring platform, which allows its clients to manage prepaid cards, employee incentives, and loyalty programmes.

On the financial front, the fintech major swung to the black in Q2 FY26 and posted a net profit of INR 6 Cr against a net loss of INR 32 Cr in the year-ago period. Meanwhile, operating revenue jumped 18% YoY and 6% QoQ to INR 649.9 Cr during the quarter under review.