Pine Labs Partners with Emirates NBD To offer Payment Solution By CIOTechOutlook Team

Pine Labs Partners with Emirates NBD To offer Payment Solution

CIOTechOutlook Team | Thursday, 16 May 2024, 02:31 IST

Pine Labs, an Indian merchant payment provider, has teamed with Emirates NBD, one of the largest banks in the Middle East, North Africa, and Turkey (MENAT) area, to provide payment solutions to the bank's commercial clients.

In order to provide merchant purchasing solutions for its corporate and institutional clients, Emirates NBD will make available Pine Labs' recently announced credit issuance platform, first in the United Arab Emirates and subsequently throughout the Kingdom of Saudi Arabia and Egypt.

The bank's customers will be able to enhance their own digital payment systems for both online and in-person transactions with the help of these technologies. One of the biggest merchant acquirers in India, Pine Labs, is relying on this alliance to gain a firm foothold in the Middle East and North Africa sector.

“Credit+ is the go-to solution for modern banks looking for a top quality, API-first full stack tech integration to enhance their credit offerings. This Acquiring Processing platform, Credit+ is built for scale and is already live in more than 20 countries,” said B Amrish Rau, CEO, Pine Labs.

Pine Labs, an Indian firm started in 1998, produces point-of-sale and payment systems. The company's valuation exceeds $5 billion. The company manufactures Android-based point-of-sale (POS) equipment.[4] It has around 70,000 retailers in India, including well-known locations like Spencer's Retail, Pantaloons, Shoppers Stop, and Westside. It also has a presence in other nations, mostly in Asia, including India and Malaysia.