PhonePe Gets In-Principle Approval for UAE Expansion

Written by: Team Angel OneUpdated on: 28 Sept 2026, 8:04 pm IST

PhonePe has received in-principle approval from the Central Bank of the UAE to expand its payment business in the country.

PhonePe is preparing to enter the UAE after receiving the regulatory clearance. The company plans to work with local banks, licensed payment service providers and technology companies before starting its operations.

The company is also looking at ways to support the UAE’s domestic payment systems, Aani and Jaywan.

PhonePe Plans UAE Payment Operations

PhonePe said its UAE operations will support payments for residents and businesses. The company’s platform currently serves more than 700 million registered users and 50 million merchants in India.

The company will complete the remaining requirements with UAE authorities before launching its commercial operations.

Aani and Jaywan Integration

PhonePe also plans to explore opportunities to support Aani and Jaywan through its technology platform.

Aani and Jaywan are part of the UAE’s domestic payment infrastructure. PhonePe said it wants to work with local partners as it builds its presence in the country.

PhonePe already works with NPCI International Payments Limited to help Indian travellers in the UAE make payments by scanning local QR codes through existing cross-border arrangements.

Final Approval Still Pending

The latest approval is an in-principle clearance, so PhonePe still has to complete the regulatory requirements before it can begin commercial operations in the UAE.

The company said its UAE plans are linked to the country’s push towards a more cashless and digital economy.

Conclusion

PhonePe’s UAE entry will add another international market to its payments business. The company is now working towards final approval before starting commercial operations.

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Published on: Sep 22, 2026, 4:12 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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