Pine Labs Limited has announced a strategic partnership with UAE's Wio Bank to modernise merchant acquiring infrastructure, marking a significant expansion in the Middle East's digital payments ecosystem. The collaboration aims to build modern acquiring infrastructure with no legacy technology dependency, enabling enhanced payment processing capabilities for the region's leading digital financial platform.

Partnership Overview

The strategic partnership will see Wio Bank deploy Credit+, Pine Labs' modular, API-first acquiring platform, to power its core acquiring operations. This collaboration represents a key milestone in modernising payment infrastructure across the UAE's rapidly evolving financial services sector.

Technology Platform Features

Credit+ is designed to deliver comprehensive payment processing capabilities through its advanced technological framework. The platform enables intelligent rule-based workflows, data-driven decisioning, and optimisation of payment acceptance rates while managing the complete merchant acquisition and lifecycle journey.

Key technological advantages include:

• Cloud-native architecture: Ensures high availability and enterprise-grade security
• Microservices framework: Enables efficient scaling of acquiring volumes
• API-driven design: Supports rapid feature rollouts and seamless integration
• Real-time capabilities: Provides instant insights and operational resilience
• Regulatory compliance: Meets stringent financial industry standards

Leadership Perspectives

B Amrish Rau, CEO of Pine Labs, emphasised the partnership's technological significance: "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."

Jayesh Patel, CEO of Wio Bank PJSC, highlighted the customer-centric approach: "At Wio, our focus is on building a banking platform that supports how businesses operate and grow. 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."

Market Impact and Strategic Significance

The partnership positions both companies to capitalise on the UAE's accelerating transition toward a cashless economy. The collaboration between digital-first banks like Wio Bank and global fintech platforms with strong local presence is expected to play a pivotal role in shaping the future of payments infrastructure in the region.

This strategic alliance demonstrates the growing importance of modern payment infrastructure in supporting digital banking transformation across emerging markets, with both companies positioned to deliver enhanced financial services capabilities to businesses and consumers throughout the region.

Pine Labs Limited has made a significant investment of ₹63.99 crores in its wholly owned subsidiary BrokenTusk Technologies Private Limited (BTPL) through a rights issue subscription completed on January 23, 2026. The investment was disclosed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Investment Details

The transaction involved Pine Labs acquiring 4,83,01,886 equity shares of BTPL for a total consideration of ₹63,99,99,989.50 through cash payment. As BTPL remains a wholly owned subsidiary, there is no change in the shareholding percentage following this investment.

About BrokenTusk Technologies

BTTP was incorporated on September 19, 2018, under the Companies Act, 2013, as a private limited company. The subsidiary operates in the financial technology services sector, providing technology solutions that enable payment services for businesses. Companies can integrate with BTPL's technology solutions through APIs to offer various payment services, including bill payments and UPI payments.

Financial Performance Trajectory

BTTP has demonstrated consistent growth over the past three years, with turnover showing substantial year-over-year increases. The subsidiary's revenue growth reflects the expanding adoption of digital payment solutions in the Indian market.

Strategic Rationale

The investment aims to meet BTPL's working capital requirements and support further growth opportunities in the fintech sector. The transaction does not fall under related party transactions as per SEBI regulations, and no governmental or regulatory approvals were required for completion.

Regulatory Compliance

The disclosure was made by Company Secretary and Compliance Officer Neerav Mehta (Membership Number: A20949) to both BSE Limited (Scrip Code: 544606) and National Stock Exchange of India Limited (Symbol: PINELABS), ensuring full compliance with listing obligations and transparency requirements.