Pine Labs has launched the Pine Labs Payment Protocol (P3P), India's first agentic payment protocol built on UPI, enabling AI agents to execute financial transactions autonomously without human authentication. The protocol addresses a critical gap in the current payment infrastructure where AI agents fail at the point of payment due to the requirement of human intervention, such as an MPIN. By extending UPI's existing mandate framework, P3P allows consumers to authorise a mandate once, after which AI agents can browse, select, negotiate, and pay seamlessly. This development positions Pine Labs as the first payment company in India to solve this challenge, facilitating a new paradigm of automated commerce.

How P3P Works

The protocol leverages UPI's Single Block Multiple Debit (SBMD) and One Time Mandate (OTM) frameworks to facilitate "block now, debit on event" transactions with near-instant settlement. P3P integrates with Grantex for verifiable identity, delegated authorization, spend controls, and auditability, ensuring that compliance is built into the protocol layer. Additionally, it utilises HTTP 402, an open web standard for machine-readable payment requests, to standardise the discovery and requesting of payments. This architecture ensures that consumers remain in absolute control, with the ability to revoke or update mandates at any time.

Early Adoption and Active Partners

The protocol is currently live in production, demonstrating real-world deployment across diverse sectors. The following partners are operational or in advanced stages of integration:

Gullak, a digital gold savings platform, allows users to set rules for purchasing gold at specific price points, which its AI agent executes via P3P without further permission. Vijay Sales is utilising the protocol to enable AI agents to secure products the moment they hit a target price, functioning as a personal shopper for value-conscious consumers.

Significance for India's Payment Landscape

The introduction of P3P marks India's entry into the domain of agentic commerce, a market projected to reach $65.47 billion by 2033, growing at a CAGR of 35.7%. By anchoring P3P onto UPI's robust architecture, Pine Labs is establishing foundational infrastructure that supports a broader ecosystem of AI-powered financial services. The company is also working with major card networks to extend P3P's mandate-based authorization to card transactions, aiming to make it the payment foundation for all agentic commerce in India.

Pine Labs will host an Investor and Analyst Day on June 16, 2026, in Mumbai. The physical meeting is scheduled from 11 A.M. to 4 P.M. at the Grand Hyatt. This event provides a platform for the company's management to engage directly with analysts and institutional investors.

The meeting is conducted pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was filed by Neerav Mehta, Company Secretary and Compliance Officer.

Meeting Details

The schedule for the Investor and Analyst Day is outlined below:

Further information regarding the event will be available on the company's investor relations website.