Pine Labs partners with UAE-based Wio Bank for tech infrastructure

Indian payments technology company Pine Labs has partnered with Wio Bank to build an acquiring infrastructure for the United Arab Emirates (UAE)-based financial institution.

 

As part of the partnership, Wio Bank will deploy Credit+, Pine Labs’ API (application programming interface) acquiring platform.

 

It will allow the bank intelligent rule-based workflows, data-driven decision-making, and optimisation of payment acceptance rates, while managing the full merchant acquisition and lifecycle journey through a developer-friendly, tech-first architecture, Pine Labs said in a statement.

 

“Our partnership with Wio Bank brings a modern acquiring processing platform to one of the most innovative digital banks in the region. Credit+ is built to deliver high transaction throughput, rapid feature deployment, and seamless scalability through its API-driven, microservices architecture,” said B Amrish Rau, chief executive officer, Pine Labs.

 

Acquiring platforms enable payment processing for merchants.

 

Apart from the UAE, Pine Labs currently offers Credit+ in India, Sri Lanka, the Middle East, Africa and Southeast Asia.

 

“This partnership with Pine Labs strengthens our ability to deliver simpler, more efficient payment capabilities, from faster onboarding and settlements to easier acceptance across channels. It allows us to continue evolving our infrastructure while building the next generation of payments and value-added services around customer needs, so they can stay focused on running and growing their business,” said Jayesh Patel, chief executive officer, Wio Bank PJSC.

 

Wio Bank is backed by strategic investors including ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank (FAB).

 

The bank provides banking-as-a-service (BaaS) and embedded finance solutions.