Pine Labs secures all three payment licences from RBI

Fintech major Pine Labs has received all three payment licences from the Reserve Bank of India (RBI), allowing the company to operate across the full spectrum of digital payment services in India.

According to an ET report,  the firm has secured approvals for payment aggregator, payment gateway, and cross-border payments, covering both offline and online merchant transactions. With these licences, Pine Labs can process domestic and international payments, manage settlements, and expand its merchant network across sectors.

Pine Labs started as a card-based payment solutions provider and later expanded into digital payments, merchant credit, and prepaid gift cards. The company serves over 500,000 merchants across India, Southeast Asia, and the Middle East through its point-of-sale (PoS) terminals and online payment solutions.

The new licences will enable Pine Labs to integrate its payment processing services, offer full-stack merchant solutions, and participate in India’s growing digital payments market, which is expected to surpass $300 billion by 2030.

Pine Labs’ IPO was open for subscription from November 7 to 11, with a price band of Rs 210–221 per share and a minimum investment of Rs 14,070. The IPO witnessed tepid demand from retail investors, with the issue subscribed just 2.46 times.

Pine Labs had mobilised Rs 1,754 crore from anchor investors ahead of its initial public offering (IPO). For Q1 FY26, the company turned profitable, posting a net profit of Rs 4.7 crore on a revenue of Rs 616 crore.