PhonePe Nears UAE Market Entry with Central Bank Approval

Sep 22, 2026

56 min

Sep 22, 2026 07:31

PhonePe moves closer to UAE launch after Central Bank approval

## Regulatory Milestone

PhonePe, a major player in India's digital payments sector, has received preliminary approval from the Central Bank of the UAE for two key licenses. These licenses pertain to Retail Payment Services and Stored Value Facilities, marking PhonePe's initial regulatory achievement outside India.

## Next Steps for Launch

While this approval is a significant step, PhonePe still requires final regulatory clearance to commence operations in the UAE. The company plans to collaborate with local banks, payment service providers, and technology vendors to integrate into the UAE's payment ecosystem effectively.

## Strategic Partnerships

PhonePe aims to leverage its technology platform to support the UAE's domestic payment systems, Aani and Jaywan. The company already facilitates payments for Indian travelers in the UAE through existing partnerships, allowing them to use PhonePe for transactions at various terminals.

## Future Prospects

Once fully operational, the UAE will be PhonePe's first international market. The expansion aligns with the UAE's Financial Infrastructure Transformation initiative, which seeks to enhance digital payment solutions across the country. PhonePe's entry is expected to bolster economic ties between the UAE, India, and other global markets.

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