Pine Labs Wins Multi-Year Contracts from Top 3 Indian OMCs for Nationwide Digital Payments Platform Modernisation

Global fintech platform Pine Labs has been awarded multiple landmark contracts from three leading Oil and Marketing Companies (OMCs) in India: Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL), and Indian Oil Corporation Limited (IOCL). Under the contracts, Pine Labs will deploy, manage, and maintain the digital payments infrastructure at petrol pumps and merchant outlets across India. These are multi-year contracts aimed at leveraging Pine Labs' expertise in managing payment rails for swifter, secure, seamless money movements at the point of sale. The contracts will cumulate to nearly 130,000 digital payments acceptance devices to be deployed and maintained pan India. Pine Labs will also manage IOCL's loyalty rewards platform called XTRAPOWER.