Pine Labs Launches AI Agent Payments for India’s UPI
A hand holds a smartphone displaying a successful payment with an AI overlay.
Key Highlights
Pine Labs introduces P3P in India, enabling AI agents to automate UPI payments based on user-set conditions, streamlining time-sensitive purchases without real-time approval.
Pine Labs Unveils AI Agent Payments for UPI
Pine Labs has introduced its Payment Protocol (P3P) in India, enabling AI agents to complete UPI transactions based on pre-set user conditions and limits. This innovation streamlines agent-led purchases, removing the need for real-time user approval at checkout.
The protocol is particularly useful for time-sensitive transactions, such as purchasing digital gold when prices fall or securing products during flash sales.
How P3P Works
- Consumers approve a UPI mandate upfront, which an AI agent then uses to finalize payments when specific criteria are met.
- Users maintain full control over their mandates, with options to update or revoke them at any time.
- The system includes robust controls for agent identity, spending limits, and audit trails.
Early Adoption & Future Plans
Gullak, a digital gold savings platform in India, is already utilizing P3P to automate gold purchases based on price thresholds. Pine Labs is also collaborating with other industries, including retail, with Vijay exploring P3P for price-based buying rules on electronics.
The company plans to extend P3P functionality to card transactions in the future, further broadening its application.