Emirates NBD, which is one of the banking groups in the MENA and Turkey region, has partnered with Pine Labs, a merchant commerce omnichannel platform, to ensure that companies across the region have access to the latest, and best, payment solutions.
As part of its growth plans, Emirates NBD is “expanding its offering by leveraging Pine Labs’ Credit+ platform to deliver merchant acquiring processing solutions for its corporate and institutional clients, initially in the UAE then across the Kingdom of Saudi Arabia and Egypt.”
The expanded suite of solutions will empower the bank’s clients “to improve their digital payment system for both online and instore payments.”
Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD, said:
“As a leading bank in the region and a key driver of digitalization in the banking industry, aligning our strategic priorities with our customers’ evolving needs is a core priority for us. Our partnership with Pine Labs will enhance our merchant acquiring services, providing our corporate and institutional clients with cutting-edge technology and innovative payment solutions.”
He added:
“This expansion ensures we continuously offer a comprehensive array of value-added options for their payment needs. We are dedicated to empowering our clients in a rapidly digitizing world and remain committed to supporting businesses on this journey.”
B Amrish Rau, CEO, Pine Labs said:
“We are excited to partner with Emirates NBD, Dubai’s largest bank, and deliver to them a robust end-to-end solution for in-store and online merchant acquiring. Credit+ is the go-to solution for modern banks looking for a top quality, API-first full stack tech integration to enhance their credit offerings. This Acquiring Processing platform, Credit+ is built for scale and is already live in more than 20 countries.”
Pine Labs’ partnership with Emirates NBD “reflects its extensive experience of working with leading banks and brands.”
The company’s end-to-end capabilities in stored-value solutions, in-store payment solutions, expertise in online payment gateway solutions and ability “to set up robust fintech infrastructures makes Pine Labs a formidable partner and a truly omnichannel platform for banks, merchants, and enterprise customers.”
As noted in the update, Emirates NBD (DFM: Emirates NBD) is a banking group in the MENAT region with “a presence in 13 countries, serving over 9 million active customers.”
Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them “realize their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations.”
The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches.”
The Group also operates Liv, the lifestyle digital bank “by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.”
