Pine Labs partners UAE’s Wio Bank to build payment acquiring system

Fintech unicorn Pine Labs has partnered with UAE-based digital lender Wio Bank to build a new payment acquiring system for the bank. 

As part of the deal, Wio Bank will use Pine Labs’ acquiring platform, Credit+, to run its merchant payment operations.

The partnership will help Wio Bank onboard merchants faster, offer real-time settlements, and support multiple payment modes across online and offline channels. 

Credit+ will manage the full merchant lifecycle, including onboarding, payment processing, and settlements, through a cloud-based and API-led setup. This will allow Wio Bank to launch new features quickly and handle large payment volumes securely.

Wio Bank is a digital-first bank in the Middle East serving individuals and businesses. It is backed by ADQ, Alpha Dhabi, and First Abu Dhabi Bank. The partnership strengthens its payments offering for merchants in the region.

For Pine Labs, the tie-up adds to its presence in the Middle East. The company works with banks and enterprises to modernise payment systems and currently operates across India, Southeast Asia, the Middle East, Africa, Australia, and the US. 

This development follows Pine Labs' successful acquisition of all three digital payment licences from the Reserve Bank of India (RBI). These licences cover offline payments, online merchant payments, and cross-border transactions, enabling the company to offer a complete range of digital payment services across all merchant interaction points. 

On the financial front, Pine Labs’ revenue increased to Rs 650 crore in Q2 FY26 from Rs 551 crore in the same quarter last year. Pine Labs reported a net profit of Rs 6 crore in Q2 FY26 versus a loss of Rs 32 crore in Q2 FY25.