Pine Labs shares hit a day high of Rs 172.90, on 29 September after it extended its Woolworths Group tech partnership for five more years.

Pine Labs Limited said on 29 September that it has renewed its technology partnership with Australia’s Woolworths Group for another five years.

Woolworths is one of Australia’s biggest retail names. The work will run through Qwikcilver Solutions Pty Ltd, a step-down subsidiary of Pine Labs.

Qwikcilver already runs the system behind Woolworths’ gift cards. It handles issuing a card, processing it and tracking each transaction, whether the customer shops in a store or online.

Under the new term, Pine Labs will make the platform stronger and link it more closely to other Woolworths systems.

It will also support new digital stored-value products, which let customers load money onto a card or app and spend it later.

The platform is built in separate blocks, so Woolworths can add new uses over time without rebuilding everything.

Pine Labs says retailers now tie gifting, customer engagement and online shopping together, which makes gift card systems a core part of their business.

The plan is to let gift cards work smoothly across both physical shops and digital channels.

Chief executive B Amrish Rau said the two firms have built a strong relationship over the past five years.

He described the goal as a ‘long-term foundation’ for Woolworths. The announcement does not mention a deal value.

Two other updates give context. On 24 September, Pine Labs teamed up with Google Cloud to boost AI-led commerce for Indian merchants.

For the June quarter, the company reported consolidated revenue of Rs 765.87 crore and a profit of Rs 19.57 crore. Revenue grew about 20% from a year earlier.

At 14:32 pm on 29 September, Pine Labs traded at Rs 169.75 on the NSE, down Rs 3.27 or 1.89% from its previous close of Rs 173.02. The day’s low was Rs 167.70.

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