Emirates NBD taps Pine Labs to enhance merchant acquiring services
UAE-based banking group Emirates NBD has partnered with India’s Pine Labs, a merchant commerce fintech, to enhance its merchant acquiring services for its corporate and institutional clients.
As part of the banking group’s “growth plans”, Emirates NBD is set to boost its merchant acquisition capabilities by implementing Pine Labs’ Credit+ solution.
The bank states its new suite of merchant acquiring solutions will initially be rolled out across the UAE before expanding to Egypt and the Kingdom of Saudi Arabia, and will enable the group’s clients to enhance their digital payment systems for both online and in-store transactions.
Pine Labs’ Credit+ solution provides support for both online and offline transaction processing across point-of-sale (POS), mobile point-of-sale (MPOS), and e-commerce channels.
Commenting on the new partnership, Pine Labs’ CEO Amrish Rau says the company’s offering will provide the bank with a “robust end-to-end solution for in-store and online merchant acquiring”, adding that Credit+ is “built for scale and is already live in more than 20 countries”.
Founded in 1998, Pine Labs operates across India, Southeast Asia, and the Middle East. In 2022, the Delhi-based firm made headlines by acquiring Bengaluru-headquartered API start-up Setu.
Earlier this year, Emirates NBD also partnered with Singapore-based Silent Eight to strengthen its financial crime prevention measures.