Pine Labs receives three payment licences from Reserve Bank of India

Pine Labs has obtained each required regulatory licences from the Reserve Bank of India (RBI) to run arsenic a outgo aggregator crossed offline, online, and cross-border payments, reported The Economic Times.

The determination follows updated guidelines released by the RBI successful September, outlining requirements for outgo aggregators seeking licences.

Pine Labs is reported to beryllium the archetypal steadfast to unafraid clearances successful each 3 categories.

Founded successful 1998, Pine Labs initially focused connected providing offline outgo processing for ample merchants. The institution expanded into integer payments with the motorboat of Pine Labs Online successful 2020-2021.

Its fintech offering was further strengthened with the acquisition of Setu, which is based successful the Indian authorities of Karnataka, during the 2023 fiscal year, enabling it to broaden its outgo services, including cross-border transactions.

Earlier this month, Pine Labs announced plans to rise up to $439m via an archetypal nationalist offering (IPO) successful Mumbai, India.

Pine Labs, headquartered successful Noida, offers merchant outgo solutions specified arsenic point-of-sale terminals and operates successful respective overseas markets, including Malaysia, the United Arab Emirates (UAE), and Singapore.

The institution filings amusement that for the fiscal twelvemonth ending March 2025, Pine Labs recorded a nonaccomplishment of Rs1.45bn connected gross of Rs22.74bn.

In March, Pine Labs entered into a concern with Visa to rotation retired Visa Instalment Solutions (VIS) connected its multi-issuer outgo level successful Southeast Asia.

This collaboration allows merchants to connection instalment outgo options for some home and planetary transactions, simplifying the process which antecedently required aggregate issuers and outgo terminals.

The Visa Instalment Solutions has been initially made disposable connected Pine Labs’ web of merchants successful Singapore, Malaysia, and the Philippines.

"Pine Labs receives 3 outgo licences from Reserve Bank of India" was primitively created and published by Electronic Payments International, a GlobalData owned brand.

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