Pine Labs has secured contracts from three of the leading Oil and Marketing Companies (OMCs) in India, namely Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL), and Indian Oil Corporation (IOCL). Under the contracts executed with respective OMCs, the company will be entrusted with deploying, managing, and maintaining the digital payments infrastructure at petrol pumps and merchant outlets across India. These are multi-year contracts aimed at leveraging the expertise of the company in managing the payment rails for swifter, secure, seamless money movements at the point of sale. These will collectively cumulate to nearly 130,000 digital payments acceptance devices to be instantly deployed and maintained pan India.

For IOCL specifically, the company will also be managing their loyalty rewards platform called XTRAPOWER, in popular use by lakhs of fleet operators in India. The program built on robust API integrations caters to fuel management, fleet analytics, trip management, secure Chip and PIN digital payment transactions including card, mobile, and RFID payments. This fintech partnership with public sector behemoths, reinforces the commitment of leading Indian OMCs and the company towards customer-centricity via seamless, secure and frictionless digital payments and loyalty rewards experiences.

Pine Labs offers a merchant platform that includes technology and financial solutions for merchants. The company also leverages technology and domain expertise for merchants of all sizes helping them to thrive in the changing global marketplace.