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Wire · operational-macro

India's PhonePe gets initial UAE central bank nod for payment licences

22 September 2026 · By · Wire by Fusion42

Published

22 September 2026

Topic

operational-macro

◆ Sectors

Fintech

◆ Geography

UAE

◆ Source

Read at reuters.com →

◆ Verified

Fusion42 · 23 September 2026 · Fusion42 review

India's PhonePe has received initial in-principle approval from the UAE central bank for licenses covering retail payment services, card schemes, and stored value facilities, pending final regulatory sign-off to start commercial operations.

This Wire brief sits within Fusion42's coverage of Fintech, and 3 sources have reported it.

◆ ◆ The Wire takeaway

Your fintech service can enter the UAE payments market soon as regulatory barriers fall. Start lining up partners in regional banks and local tech vendors to accelerate your launch once final approval arrives.

◆ Coverage

3 sources · 22 Sep 2026

◆ Related on Wire

◆ Topics

Fintechpayment-licensesregulatory-approvalfintech-expansionUAE-marketcross-border-fintech