Pine Labs Unveils India’s First Agentic Payment Protocol Built On UPI

Mumbai, June 12: Pine Labs announced the launch of Pine Labs Payment Protocol (P3P), describing it as India’s first agentic payment protocol built on the Unified Payments Interface (UPI).

The company said the platform enables AI agents to complete UPI-based transactions autonomously without requiring human authentication at the time of payment.

According to a company press release, P3P extends UPI’s existing mandate architecture, including UPI One Time Mandates and Reserve Pay frameworks, to support agent-driven transactions.

Pine Labs stated that the protocol combines payment infrastructure with Grantex, an open standard designed for machine-readable payment requests and delegated authorisation. The system is intended to provide identity verification, auditability, spending controls and programmable payment execution for AI-led commerce applications.

The company said Gullak, a digital gold savings platform, has already gone live on the protocol. Pine Labs also disclosed that Vijay Sales is running a proof-of-concept deployment using the platform for AI-enabled commerce workflows.

The company added that deployments are underway across retail, fintech and travel sectors.

Stock Market Snapshot

Pine Labs share price moved higher after the company announced the launch of its AI-powered payment infrastructure platform.

The stock traded at ₹148.69, up 2.42%, as of 10:12 IST on June 12, 2026.

Pine Labs share price witnessed buying interest during the opening session as investors reacted to the company’s entry into agentic commerce infrastructure, a rapidly emerging segment linked to artificial intelligence and digital payments.

Market participants are closely tracking companies building AI-native financial and commerce ecosystems as enterprises accelerate automation-led transaction models.

P3P Targets AI-Led Autonomous Commerce Ecosystem

The company said existing payment systems were designed primarily for human-driven interactions, creating friction when AI agents attempt to complete purchases independently.

Under the proposed framework, consumers authorise payment mandates upfront, after which AI agents can browse, negotiate and execute purchases within pre-approved limits without additional intervention.

Pine Labs said the protocol currently operates on UPI infrastructure and is expected to expand to card-based payment networks in future phases.

The company also cited projections indicating that the global agentic commerce market could reach $65.47 billion by 2033.

Company Background

Pine Labs Ltd operates in merchant commerce, digital payments and prepaid solutions across India and several international markets.

The company provides payment acceptance solutions, issuing infrastructure, embedded finance offerings and merchant commerce technologies to enterprises, financial institutions and retail businesses.

Its operations span online and offline payment ecosystems across sectors including retail, hospitality, travel and fintech.

Conclusion

Pine Labs’ launch of the P3P protocol marks a strategic push into AI-enabled autonomous commerce infrastructure using India’s UPI ecosystem.

While the commercial scale of agentic commerce remains at an early stage, the development positions the company within a growing intersection of artificial intelligence, digital payments and automated consumer transactions.

Source:

• https://www.nseindia.com/get-quote/equity/PINELABS/Pine-Labs-Limited
• https://nsearchives.nseindia.com/corporate/PINELABS_11062026152437_PR-PLL_P3P_signed.pdf