- Partnership Overview:
- Emirates NBD, a UAE-based banking group, partners with Pine Labs, an Indian merchant commerce fintech, to enhance merchant acquiring services.
- Implementation and Expansion:
- Emirates NBD will implement Pine Labs’ Credit+ solution to boost merchant acquisition capabilities.
- The rollout will start in the UAE and expand to Egypt and the Kingdom of Saudi Arabia.
- Credit+ Solution:
- Provides support for both online and offline transaction processing across POS, MPOS, and e-commerce channels.
- Offers a robust end-to-end solution for in-store and online merchant acquiring.
- Statements:
- Pine Labs’ CEO Amrish Rau highlights that Credit+ is built for scale and is operational in over 20 countries.
- Company Background:
- Pine Labs, founded in 1998, operates across India, Southeast Asia, and the Middle East.
- In 2022, Pine Labs acquired Bengaluru-based API start-up Setu.
- Previous Partnerships:
- Earlier this year, Emirates NBD partnered with Singapore-based Silent Eight to enhance financial crime prevention measures.
