Pine Labs Share Price Surges Over 3%; Launches P3P, Bringing Fully Automated AI UPI Payments to India

Pine Labs has introduced the Pine Labs Payment Protocol (P3P), a system that allows AI agents to complete UPI payments without requiring users to enter an MPIN at the time of the transaction, as per a filing dated June 11, 2026.  

The protocol uses UPI's existing mandate framework, where the user provides approval once and the payment is executed later if the preset conditions are met. 

Focus on AI-Driven Transactions 

The development comes as AI agents are increasingly being used for tasks such as product searches, bookings, and purchases.  

Under the P3P framework, users can set spending limits and authorise an AI agent to make payments on their behalf within those limits.  

The protocol also includes identity verification, delegated authorisation and an audit trail for every transaction. 

Rollout Begins with Early Partners 

Digital gold platform Gullak has started using the protocol. One of the use cases shared by the company allows a customer to authorise the purchase of ₹500 worth of gold automatically if the price falls below ₹16,000 per gram.  

Pine Labs also said the protocol is being tested in retail, fintech and travel, while Vijay Sales is conducting a proof-of-concept exercise. 

Based on Existing Payment Infrastructure 

The company said P3P builds on UPI's One Time Mandate and Single Block Multiple Debit frameworks instead of introducing a separate payment mechanism.  

According to the release, UPI currently processes more than 23 billion transactions every month.  

Pine Labs added that it is working on extending the same mandate-based approach to card payments through partnerships with card networks. 

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Pine Labs Share Price Performance  

As of June 12, 2026, 11:28 am, Pine Labs Ltd share price was trading at ₹150.30, a 3.53% increase from the previous closing price. 

Conclusion 

The protocol adds an AI-enabled payment layer to the existing UPI system by allowing pre-authorised transactions to be completed without manual authentication while retaining user-defined controls and mandate-based approvals. 

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