Wio Bank, the UAE-based digital banking platform, has announced a strategic partnership with global fintech firm Pine Labs to overhaul its payment acquiring systems. This collaboration is set to modernise the bank’s infrastructure, reducing reliance on legacy technology and enhancing its service offerings for business clients.
The partnership will focus on enabling faster merchant onboarding, facilitating real-time payment settlements, and supporting seamless multi-channel payment acceptance, positioning Wio Bank at the forefront of the region’s digital payment evolution.
Upgrading to a Modern Acquiring Platform
At the core of this collaboration is Wio Bank’s adoption of Credit+, a modular, API-first acquiring platform developed by Pine Labs. Designed with a cloud-native, microservices architecture, Credit+ empowers Wio Bank to manage its core acquiring operations with greater efficiency and flexibility.
The platform is built to support rule-based workflows and data-driven decision-making, which will help optimise payment acceptance rates. It covers the entire merchant lifecycle, from onboarding to ongoing management, while allowing for the rapid deployment of new features and ensuring compliance with regulatory requirements.
Enhancing the Merchant Experience
For Wio Bank’s business customers, this upgrade translates into a significantly improved experience. The new infrastructure will streamline the merchant onboarding process, allowing businesses to start accepting payments faster. Furthermore, the capability for real-time settlements ensures that merchants have quicker access to their funds, improving cash flow and operational efficiency.
Jayesh Patel, CEO of Wio Bank PJSC, commented on the customer-centric benefits, stating, “This partnership with Pine Labs strengthens our ability to deliver simpler, more efficient payment capabilities, from faster onboarding and settlements to easier acceptance across channels. It allows us to continue evolving our infrastructure while building the next generation of payments and value-added services around customer needs.”
A Strategic Move in a Cashless Economy
As the UAE continues its rapid transition toward a cashless economy, the synergy between digital-first banks and established global fintech providers is becoming increasingly crucial. This partnership underscores a key trend in the market, where modern, scalable technology is essential for meeting the growing demands of digital commerce.
Amrish Rau, CEO of Pine Labs, highlighted the platform’s capabilities, saying, “Our partnership with Wio Bank brings a modern acquiring processing platform to one of the most innovative digital banks in the region. Credit+ is built to deliver high transaction throughput, rapid feature deployment, and seamless scalability through its API-driven, microservices architecture.”
About Wio Bank
Wio Bank is an integrated digital banking platform jointly owned by Abu Dhabi Development Company (ADQ), Alpha Dhabi Holding, Etisalat (e&), and First Abu Dhabi Bank (FAB). It provides a full suite of banking solutions for SMEs, entrepreneurs, and freelancers, with a focus on simplifying financial management through its digital-first approach.
About Pine Labs
Pine Labs is a leading global merchant commerce omnichannel platform. It works with major banks and enterprises worldwide to upgrade legacy financial systems through its flexible, cloud-native platforms. The company’s solutions help businesses accept and manage payments across various channels, driving growth in the digital economy.
Source: Fintech News Middle East
