PhonePe receives UAE approval for payment and card licences

PhonePe, India’s largest digital payments platform and controlled by Walmart, has received regulatory approval in the UAE to provide payment services.

The authorization allows the company to offer licensed digital payment solutions to consumers and businesses across the Emirates.

The approval further strengthens the emerging India–UAE financial corridor and underscores the UAE’s push to liberalize its payments sector for foreign operators. For PhonePe, entering the Gulf market represents an opportunity to scale its low-fee, mass-market digital wallet model beyond India while gaining access to the lucrative cross-border remittance segment.