Pine Labs is a leading technology company focused on digitizing commerce through digital payment and issuing solutions for merchants, consumer brands, enterprises, and financial institutions. With a strong presence in India and expanding international operations across Malaysia, UAE, Singapore, Australia, the U.S., and Africa, Pine Labs provides a comprehensive suite of cloud-based payment and fintech infrastructure solutions that simplify, secure, and accelerate commerce.

The company operates at the intersection of digital payments, affordability solutions, and fintech infrastructure, offering a unified platform that empowers businesses to accept, process, and manage transactions efficiently.

Core Platforms

1. Digital Infrastructure and Transaction Platform

This platform provides merchants with in-store and online payment acceptance solutions, affordability options (such as EMI and cashback programs), and value-added services (VAS) like dynamic currency conversion and transaction processing.

i) In-store & Online Payments: Integration with multiple acquirers and payment methods (credit/debit cards, UPI, wallets, loyalty points).
ii) Affordability & VAS: Offers credit-based purchase options via partnerships with 40+ lenders; facilitates dynamic currency conversion and transaction aggregation.
iii) FinTech Infrastructure (Setu): API-enabled digital public infrastructure offering eKYC, UPI, bill collection, and data insights for financial institutions.

2. Issuing and Acquiring Platform

Pine Labs enables consumer brands, enterprises, and financial institutions to issue and manage prepaid, debit, credit, and forex cards. It also supports merchant acquiring and full-stack transaction processing.

i) Prepaid & Loyalty Solutions: Used by brands for gifting, cashback, refunds, rewards, and expense management.
ii) Credit+ Platform: Offers banks and fintechs end-to-end issuing, acquiring, and processing software.
iii) High Performance: Achieved 99.99% uptime on prepaid platforms and 99.93% uptime on payment systems from FY23–FY25.

Operational Scale (FY2025)

In FY2025, Pine Labs processed a Gross Transaction Value (GTV) of ₹11,424.97 billion across 5.68 billion transactions, serving 988,304 merchants, 716 consumer brands and enterprises, and 177 financial institutions. As per the Redseer Report, Pine Labs emerged as India’s largest issuer of closed and semi-closed loop gift cards by transaction value, ranked among the top five in-store digital payment platforms, and was a leading enabler of digital affordability solutions at checkout points.

Pine Labs’ ecosystem includes Merchants across retail, e-commerce, lifestyle, hospitality, and healthcare sectors), Consumer Brands such as Croma, Amazon Pay, LG Electronics, Flipkart, and Redington and Financial Institutions including HDFC Bank, ICICI Bank, Axis Bank, and SBI Payments.

Market Opportunity

India’s payment ecosystem is rapidly evolving from cash to AI-driven digital systems. With ₹116.8 trillion in payment value processed in FY2025 and a projected CAGR of 22–24% through FY2029, Pine Labs is well-positioned to capitalize on rising digital adoption, affordability solutions, and expanding merchant digitization.