GENERAL22 Sept 2026
PhonePe receives initial UAE central bank nod for payment licenses
PhonePe said on Tuesday it has received in-principle approval from the UAE central bank for two licences. These cover retail payment services, card schemes and stored value facilities. It is a key step toward launching locally licensed operations in the Gulf state. If you run a business with UAE customers or staff, watch how this rolls out before changing any payment setup.
Key Statutory Highlights
- PhonePe said on Tuesday it received in-principle approval from the UAE central bank for two licences.
- The two licences cover retail payment services, card schemes and stored value facilities.
- PhonePe described the approval as a key step toward launching locally licensed operations in the Gulf state.
Actionable Advice for Taxpayers / Founders:If your business deals with UAE customers or collects payments from there, follow PhonePe's own announcements to see when these licences actually go live. Treat this as an early stage approval only, and do not change your existing payment or remittance arrangements until a full licence and launch are confirmed.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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