KamelPay Expands Digital Payment Services with New Licences

Jul 31, 2026

72 min

Jul 31, 2026 09:30

UAE fintech KamelPay wins Central Bank licences to expand digital payment services

## KamelPay Secures Key Licences

UAE-based fintech company KamelPay has obtained two significant licences from the Central Bank of the UAE. These licences, Stored Value Facilities (SVF) and Retail Payment Services (RPS), will enable the company to broaden its regulated digital payment services.

## Company Background and Services

Founded in 2021, KamelPay offers payroll and business payment solutions across various sectors such as construction, retail, and logistics. The company currently serves over 2,000 corporate clients and facilitates payments for more than 400,000 employees in the UAE.

## Strategic Importance of Licences

The new licences provide a regulatory framework that allows KamelPay to enhance its payment services. This move is seen as a step towards strengthening the UAE's digital payments ecosystem. Hussain AlQemzi, Chairman of KamelPay, emphasized the importance of secure and inclusive financial services for businesses and the workforce.

## Innovation and Future Plans

Co-Founder Saadaat Yaqub highlighted that the licences not only ensure regulatory compliance but also allow for greater innovation. The company plans to develop new products and bring them to market more quickly. CEO Ehsan Rahman stated that these licences will enhance KamelPay's existing payroll and corporate payment solutions, providing greater confidence and compliance for customers.

## Flagship Products and Partnerships

KamelPay's main offerings include PayD, focused on payroll services, and AbsoluteCard, a platform for corporate payments and expense management. The company has also established partnerships with over 10 banks and exchange houses in the UAE.

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