Pine Labs secures all three payment licences from RBI

IPO-bound digital payments processor Pine Labs has secured all the mandated regulatory licences needed to offer digital payments in the country.

According to a recent notification issued by the Reserve Bank of India, Pine Labs has secured a payment aggregator licences for offline payments, online merchant payments, and for processing cross-border payments.

The company, which has served as an offline payment processor for large organised merchants since its inception in 1998, ventured into digital payments with Pine Labs Online in 2020-2021. It added a fintech infrastructure layer to the business through the acquisition of Bengaluru-based Setu in financial year 2023. Now, the company can venture into cross-border payments as well.


On September 15, the Reserve Bank of India released updated guidelines for payment aggregators and laid out the fresh rules under which licences will be granted. Pine Labs has become the first company to get all the three regulatory clearances.

This comes at a time when the fintech is seeking to raise Rs 3,900 crore through an initial public offering, in a mix of a fresh issue and an offer for sale. The company is aiming for a valuation of $2.9 billion, roughly 40% shy of its last private market valuation of $5 billion.

Also Read: Our scale & financials justify an IPO: Pine Labs CEO Amrish Rau