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… Read MoreInc42 Media
