PhonePe moves closer to UAE launch

By the Editorial Team · Wednesday, September 23, 2026

PhonePe has received in-principle approval from the Central Bank of the UAE for two licenses, allowing it to expand its digital payment services into the United Arab Emirates. This marks the company’s first regulatory approval outside India and paves the way for collaborating with local banks and payment networks to integrate its platform into the UAE’s financial ecosystem.

PhonePe has taken a significant step toward expanding its payment services into the United Arab Emirates after receiving in-principle approval from the Central Bank of the UAE for two licenses. This move marks the Indian digital payments company’s first regulatory foothold outside its home market.

The approvals cover Retail Payment Services as well as Card Schemes and Stored Value Facilities, signaling regulatory confidence in PhonePe’s business model and technology platform. The company must still obtain final regulatory clearance before it can commence commercial operations within the UAE.

PhonePe has indicated plans to collaborate with regional banks, authorized payment service providers, and local technology vendors once full approval is secured. The company aims to integrate its services within the existing UAE payments ecosystem seamlessly.

Additionally, PhonePe intends to explore ways to support Aani and Jaywan, the country’s domestic payment networks, by leveraging its comprehensive technology stack. Its platform currently supports extensive transaction volumes in India, where it serves over 700 million registered users and more than 50 million merchants.

The planned deployment in the UAE is designed to complement the country’s current financial infrastructure, facilitating payments for both residents and businesses. The company’s expansion reflects growing interest from Indian fintech firms seeking opportunities in the Middle Eastern digital payments market.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.