Emirates NBD taps Pine Labs for Merchant Acquiring Services

Emirates NBD, a leading banking group in the UAE, has partnered with India’s fintech company Pine Labs to improve its merchant acquiring services for corporate and institutional clients. This collaboration is part of Emirates NBD’s strategic growth plans.

The bank will utilise Pine Labs’ Credit+ solution to bolster its merchant acquisition capabilities. The new suite of solutions will initially be implemented across the UAE, with plans to expand to Egypt and Saudi Arabia. This enhancement aims to upgrade the digital payment systems for both online and in-store transactions for the bank’s clients.

Pine Labs’ Credit+ solution supports both online and offline transaction processing across various channels, including point-of-sale (POS), mobile point-of-sale (MPOS), and e-commerce.

Amrish Rau, CEO of Pine Labs, highlighted that their solution provides Emirates NBD with a comprehensive end-to-end system for merchant acquiring. “Credit+ is built for scale and is already operational in more than 20 countries,” Rau said.

Founded in 1998, Pine Labs operates in India, Southeast Asia, and the Middle East. In 2022, the company expanded its capabilities by acquiring the API start-up Setu.

This partnership follows Emirates NBD’s recent collaboration with Singapore-based Silent Eight to enhance its financial crime prevention measures, demonstrating the bank’s commitment to innovation and security in its operations.