PhonePe UAE Launch: What Central Bank Approval Means for Users
The PhonePe UAE launch has moved a step closer after the Central Bank of the UAE gave the Indian digital payments company in-principle approval for two payment licences.
The approval covers Retail Payment Services and Card Schemes, as well as Stored Value Facilities. PhonePe said the move follows the completion of the initial regulatory due-diligence process.
However, the approval does not mean PhonePe can start full commercial operations in the UAE yet. The company still needs to complete the remaining requirements and receive final regulatory approval from the Central Bank of the UAE.
Once approved, PhonePe plans to work with UAE banks, licensed payment service providers and local technology companies. The company also plans to explore opportunities to support Aani, the UAE’s instant payment platform, and Jaywan, the country’s domestic card scheme.
PhonePe already has a limited payment presence in the UAE. Through its partnership with NPCI International Payments Limited, Indian travellers can use PhonePe to scan local QR codes and make payments at participating NEOPAY and Network International terminals.
The proposed expansion would take PhonePe beyond payments for Indian travellers and towards a locally regulated payments business in the UAE. PhonePe said it had more than 700 million registered users and 50 million merchants in India as of August 2026.
The UAE will become PhonePe’s first international market with a regulated operating presence once the company receives final approval and begins commercial operations.
No official date has been announced for the full PhonePe UAE launch. Users will need to wait for further regulatory updates before the wider service becomes available.
