Positive impactCompany
PhonePe expands to UAE: Fintech gets in-principle nod for 2 payment licences | What it means
Mint 1 hr ago·22 Sept 2026, 9:15 am
PhonePe has received in-principle approval from the UAE central bank for two payment licences. This authorisation allows the company to offer retail payments, card schemes, and stored value facilities in the region, pending final regulatory clearance.
This expansion is significant for investors as it marks a major step for the company's international growth strategy. Entering the UAE market diversifies PhonePe's revenue streams beyond India and strengthens its position as a leading digital payments platform in the Middle East.
Investors should monitor the timeline for the final regulatory approval and PhonePe's subsequent launch activities. Successful execution in this new market could positively impact the company's long-term valuation and market presence.
Excerpt from Mint
Digital payments platform PhonePe has received in-principle approval from the UAE central bank for two licences covering retail payment services, card schemes and stored value facilities, Reuters reported. The Walmart-backed fintech said on Tuesday that the approval followed initial regulatory due diligence. However,…Read the original at Mint
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