Pine Labs Becomes First Payment Aggregator to Obtain All 3 RBI Payment Licences

As per the Economic Times report, Digital payments firm Pine Labs has earned a significant regulatory milestone by acquiring all 3 payment licences from the Reserve Bank of India. With approvals for offline, online, and cross-border payment processing now in place, the company is positioned to enhance its digital fintech services as it prepares for a massive public listing.

Pine Labs Acquires Full Suite of RBI Payment Licences

Pine Labs has become the first payment aggregator to be granted the complete set of RBI approvals covering offline transactions, online merchant payments, and cross-border payment processing. This achievement follows updated RBI guidelines released on September 15, 2025, focused on streamlining and securing India’s payments infrastructure. 

These licences enable Pine Labs to service a broader spectrum of merchants, both domestically and globally, making it a more versatile player in the digital payments ecosystem.

Strategic Moves Toward Digital Expansion

The company has evolved from being primarily an offline payment processor since its inception in 1998 to building a robust digital payments platform. This transformation accelerated with the launch of Pine Labs Online in 2020-2021. By acquiring fintech startup Setu during FY 2023, Pine Labs integrated an advanced infrastructure layer, offering APIs and financial tools to developers and businesses alike.

Pine Labs IPO Goals

The regulatory approval marks a key milestone for Pine Labs' IPO, which raised ₹3,900 crore through its IPO that concluded on November 11, 2025.. This will be a mix of fresh equity and an offer for sale by existing shareholders. 

While the expected valuation is $2.9 billion, it reflects a drop of nearly 40% from its last private market value of $5 billion. However, with full licence compliance now achieved, Pine Labs could regain investor confidence by showcasing regulatory strength and sector readiness.

Read More: Pine Labs IPO Allotment Status to be Finalised Tomorrow November 12!

Conclusion

Pine Labs’ acquisition of all 3 RBI payment licences strengthens its position. With strong foundations in offline payments, a growing digital presence, and a recent fintech infrastructure infusion, the firm is well-placed to capitalise on India’s evolving payment landscape.

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