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UAE Payments License Boosts AvenuesAI Growth
5 Jun
Summary
- AvenuesAI's subsidiary received in-principle approval for a UAE payment license.
- The license will enhance Avenues World's digital payments market presence.
- Company's Q4 FY26 net profit surged 61.67% to Rs 79.38 crore.
Avenues World FZ LLC, a subsidiary of AvenuesAI, has secured in-principle approval for a Retail Payment Services - Category III License from the Central Bank of the UAE. This development is expected to fortify the company's position within the UAE's dynamic digital payments landscape.
The newly approved license will empower Avenues World to expedite its growth trajectory, enlarge its customer network, and roll out innovative payment solutions across the United Arab Emirates. The company remains committed to fostering cashless transactions and enhancing the e-commerce ecosystem.
This move aligns with AvenuesAI's broader strategy as a fintech entity offering digital payment and AI solutions. In the fourth quarter of fiscal year 2026, the company reported a substantial consolidated net profit increase of 61.67%, reaching Rs 79.38 crore, supported by a 114.52% surge in revenue to Rs 2489.54 crore.
