Pine Labs announced on October 22 a partnership with Sri Lankan payments platform WEBXPAY that lets merchants in Sri Lanka accept UPI, UPI AutoPay, cards and net banking from more than 100 Indian banks, plus EMI conversions and credit on UPI, with T+1 settlement. The companies say it is the first payment aggregator-to-payment aggregator arrangement in Sri Lanka under the RBI’s Payment Aggregator-Cross Border (PA-CB) framework, and they plan to extend the model to Southeast Asia.
Why it matters: More than 5.3 lakh Indian travellers visited Sri Lanka in 2025, and the deal plugs Indian payment methods into WEBXPAY’s existing merchants in hospitality, travel and retail. Working through a local aggregator under PA-CB lets Pine Labs reach foreign checkouts without a licence in each country, a route other RBI-authorised Indian aggregators can follow.
Source: ETBFSI (The Economic Times), October 22, 2026
Image: Sergei Gussev, CC BY 2.0, via Wikimedia Commons
