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PhonePe Secures UAE Licenses for Expansion
22 Sep
Summary
- PhonePe received in-principle approval from the UAE central bank.
- Licenses cover retail payment, card schemes, and stored value.
- This is a step towards launching locally licensed operations in the UAE.
Digital payments platform PhonePe has taken a significant step toward establishing its presence in the United Arab Emirates. The company announced on Tuesday, September 22, 2026, that it has secured in-principle approval from the UAE central bank. This approval is essential for launching locally licensed operations within the Gulf state.
The obtained licenses encompass key financial services. These include retail payment services, card schemes, and the provision of stored value facilities. This development marks a critical milestone for PhonePe's international expansion strategy into the Middle Eastern market.
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