SBI Payments and Pine Labs have announced an expanded strategic alliance, building on their successful 12-year partnership. This collaboration aims to enhance the digital payments landscape in India, leveraging the combined strengths of SBI Payments, a joint venture between the State Bank of India and Hitachi Payment Services, and Pine Labs, a leading merchant commerce platform.
Currently powering over 200,000 digital checkout points across India, the partnership seeks to accelerate the adoption of digital payments and commerce solutions nationwide. By combining SBI Payments’ extensive distribution network and advanced payment acceptance ecosystem with Pine Labs’ tailored solutions, the alliance aims to deliver seamless checkout experiences and empower merchants with a comprehensive suite of digital tools to streamline workflows and drive business growth.
Commenting on the partnership, Shri. Sujay Kumar Yadav, Managing Director & CEO, SBI Payments, said, “The expanded alliance between SBI Payments and Pine Labs reflects our shared commitment to driving financial inclusion and empowering merchants digitally across the nation. This collaboration is a step toward extending our reach and ensuring that merchants, regardless of geography, benefit from advanced payment solutions.”
“By blending SBI Payments’ core strengths with Pine Labs’ cutting-edge technology, we are poised to deliver holistic offerings that prioritize business enhancement through seamless, secure, and innovative payment experiences. Our integrated, one-stop payment solutions not only enhance merchant productivity by driving business but also ensure unmatched convenience and satisfaction for the customers, elevated through our value-added services,” said Shri. Tarun Singh, Chief Operating Officer, SBI Payments.
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“Today, we are thrilled to expand our partnership with SBI Payments as they herald a new era of tech-first point-of-sale solutions for India’s merchants and large retailers. We believe that this banking-fintech partnership augurs well for the ecosystem and acceleration of digital payments in India,” said Sumit Chopra, COO – Pine Labs, Digital Payments.
As digital payments and commerce gain momentum in India, this strengthened alliance between SBI Payments and Pine Labs aims to deliver world-class solutions that enhance merchant productivity, elevate consumer experiences, and accelerate the nation’s digital transformation.
