PhonePe receives in-principle approval from the UAE central bank for payment licenses
According to CNA Business, PhonePe said on Sept 22 it received in-principle approval from the UAE central bank for two licenses covering retail payment services, card schemes, and stored value facilities, a key step toward launching locally licensed operations in the UAE. The report notes the licenses cover two categories and will enable local operations.
Key facts
- 01PhonePe is a digital payments platform.
- 02The UAE central bank granted in-principle approval for two licenses.
- 03The licenses cover retail payment services, card schemes, and stored value facilities.
- 04It is a step toward launching locally licensed operations in the UAE.
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