MUMBAI: 2025 – Today, SBI Payments and Pine Labs announced an expanded strategic alliance, building on their long-standing 12-year partnership. SBI Payments is a Joint Venture formed between India’s largest commercial bank, State Bank of India, and Hitachi Payment Services Pvt. Ltd. Pine Labs is a merchant commerce platform. Together, SBI Payments and Pine Labs, today power over 200k digital checkout points across India.
With this latest expansion, SBI Payments and Pine Labs will focus on accelerating the adoption of digital payments and digital commerce solutions. The partnership will focus on ensuring a seamless checkout experience across multiple payment methods. The extensive distribution network and advanced payment acceptance ecosystem of SBI Payments, combined with Pine Labs’ tailored solutions and comprehensive offerings for the merchants, is expected to collectively enhance merchant capabilities and drive sales growth. Lastly, a comprehensive merchant digitisation suite is planned to be made available, empowering merchants to digitise and streamline their workflows.
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.” PTI
