Pine Labs launches P3P, India's first AI agentic payment protocol on UPI
Pine Labs launches P3P, India's first agentic payment protocol on UPI. It enables AI agents to complete UPI payments without human authentication by extending the mandate framework. Gullak and Vijay Sales are early adopters. P3P aims to drive autonomous commerce and is planned for expansion to card networks.
This launch introduces a novel payment solution with the potential to significantly alter how AI-driven commerce operates in India, impacting merchants, consumers, and the broader fintech landscape.
The launch of a new, innovative payment protocol that addresses a significant gap in the market and positions the company as a leader in a growing technology trend is a positive development.
Pine Labs Limited has launched the Pine Labs Payment Protocol (P3P), an agentic payment protocol built on UPI, allowing AI agents to complete UPI payments without human authentication. This innovation addresses the current limitation where AI agents fail at the human authentication step in UPI transactions.
P3P extends UPI's existing mandate framework, enabling consumers to authorize payments once upfront. Subsequently, AI agents can browse, select, negotiate, and pay without requiring further human intervention. The protocol integrates with Grantex for identity verification, authorization, spend controls, and auditability, and utilizes HTTP 402 for standardized payment requests. Consumers retain control through mandate management and spending limits.
Gullak, a digital gold savings platform, is already live on P3P, enabling autonomous wealth creation by allowing AI agents to execute trades based on predefined rules. Vijay Sales, an electronics retailer, is also in a proof of concept phase, exploring how P3P can allow AI agents to secure products at target prices for customers.
Pine Labs aims for P3P to position India at the forefront of the growing agentic commerce market, projected to reach $65.47 billion by 2033. The company is also working to extend P3P's mandate-based authorization to card transactions, with plans to expand to other payment rails.
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Pine Labs Limited filed this with the NSE as a statutory disclosure, categorised under product launches. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Pine Labs Limited. Read the original for the full detail.