Pine Labs
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Pine Labs, a tech firm, digitizes commerce with its payment and issuing solutions. It provides a digital infrastructure and transaction platform for in-store and online payments, offering services like dynamic currency conversion and fintech infrastr...
Parent organisation
Pine Labs
Pine Labs has fostered an expanding network linking retailers, consumer goods companies, businesses, and banks. Their merchant base grew from 250,992 in FY22 to 530,318 in FY23, reaching 644,500 in FY24, and standing at 915,731 by December 31, 2024.
Pine Labs asserts its leading position in India's closed and semi-closed loop gift card market by transaction volume. The firm reported processing Rs 6,084.36 billion in gross transaction value from 3.44 billion transactions during FY24.
The firm asserts it has cultivated enduring ties with important retailers, consumer product companies, and banks. These alliances extend across sectors like retail, online shopping, health, and accommodation. The company also highlights significant joint efforts with entities like Croma and HDFC Bank that have grown for over ten years, showing heightened involvement and broader services throughout that period.
The firm asserts its cloud-native, API-first platform efficiently handles significant transaction volumes and guarantees scalability. For fiscal years 2022, 2023, and 2024, the platform processed 2.15 billion, 2.57 billion, and 3.44 billion transactions respectively, while upholding 99.95% payment uptime and 99.98% prepaid issuing uptime.
Pine Labs highlights its history of introducing pioneering commerce solutions, such as its exclusive online payment system, 'Plutus,' and its affordability offerings. The firm asserts these advancements are driven by its custom-built technology infrastructure, enabling swift API connections, solid security, and high-volume transaction handling.
The company's revenue from operations has shown steady growth, rising from Rs 933.98 crore in FY22 to Rs 1,290.73 crore in FY23 and Rs 1,341.01 crore in FY24.
*All values are in Rs. Cr
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