Pine Labs launches new credit issuing stack for businesses

economictimes.indiatimes.com:

Pine Labs said it has launched a new platform called Credit+, which is a credit issuance stack for banks, fintechs and large merchants.
Pine Labs, which has looked to diversify from offline payments, will use the new stack to provide fintechs and banks the ability to manage credit programmes, launch co-branded credit cards, help with rewards and loyalty management, as well as provide online merchants the ability to provide embedded credit offerings to users.

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Currently, Credit+ has partnered with Mastercard and Visa, as it looks to launch other card network providers such as Amex and RuPay.
Getting RuPay is critical for card infrastructure providers, especially on the issuance side, as it allows fintechs to provide credit on the Unified Payments Interface (UPI).

“This foray into credit builds on our market leadership in both prepaid gift cards (Qwikcilver), and embedded financial services (Setu),” Amrish Rau, chief executive officer, Pine Labs, wrote on the company blog.
Qwikcilver and Setu are two major acquisitions made by Pine Labs in 2019 and 2022, respectively.
Increased interest in credit management startups
ET had earlier reported that with the proliferation of credit, several fintech infrastructure startups, such as card management platform 42 Card Solutions, banking service platform Falcon and credit and treasury management firm, Knight Fintech, were also in the market to raise their next round of funding.

These platforms are gaining investor