PhonePe UAE Launch: Central Bank Approval, Licences and What Users Need to Know?
PhonePe is moving closer to launching its payment services in the UAE after receiving in-principle approval from the Central Bank of the UAE (CBUAE) for two licences.
The Indian digital payments company received approval for licences covering Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF). The development marks an important step in PhonePe’s planned entry into the UAE and its first international regulatory footprint.
However, PhonePe cannot start full commercial operations yet. The company still needs to complete the remaining regulatory requirements and receive final approval from UAE authorities.
PhonePe UAE Launch
PhonePe received the in-principle approval on September 22, 2026, following the completion of the initial regulatory due-diligence process. It says the approval gives it a regulatory foundation to work towards launching its UAE operations. The company is now working with authorities to complete the requirements for final approval.
| UAE Licence | What it covers |
| Retail Payment Services and Card Schemes (RPSCS) | Retail payment services and card-related payment activities |
| Stored Value Facilities (SVF) | Stored-value payment facilities |
Is PhonePe Available in the UAE Now?
PhonePe is already usable in the UAE for certain cross-border payments, but its full local launch has not yet happened. Indian travellers can currently use PhonePe to scan local QR codes and make payments through participating terminals under existing cross-border arrangements involving NPCI International Payments Limited (NIPL).
The new regulatory approval is different because it is aimed at establishing a broader regulated PhonePe presence in the UAE.
When will PhonePe Officially Launch in the UAE?
- PhonePe has not announced a confirmed commercial launch date. The company first needs to obtain final regulatory approval from the Central Bank of the UAE and complete the remaining requirements.
Therefore, the September 2026 approval should be treated as an in-principle approval, not the official UAE launch date.
What could PhonePe Offer in the UAE?
PhonePe has not published a complete list of its final UAE consumer products. The company says it intends to work with regional banks, licensed payment service providers and local technology companies once final regulatory approval is secured.
The planned UAE operation is expected to focus on integrating PhonePe’s technology with the country’s existing financial infrastructure.
This could make the UAE an important market for PhonePe’s international expansion, particularly because of the strong financial and commercial links between the UAE and India.
PhonePe Plans to Explore Aani and Jaywan Integration
One of the most notable parts of PhonePe’s UAE strategy is its plan to explore opportunities to support Aani and Jaywan, the UAE’s domestic payment rails.
PhonePe says it intends to leverage its full-stack technology platform to explore support for these systems.
What is Aani?
Aani is the UAE’s instant payment platform developed as part of the Central Bank’s Financial Infrastructure Transformation (FIT) programme. The system is designed to enable fast digital payments within the UAE.
PhonePe’s proposed integration with the UAE payment ecosystem would therefore place its technology alongside existing domestic payment infrastructure rather than operating separately from it.
What is Jaywan?
Jaywan is the UAE’s national domestic card programme. PhonePe has said it intends to explore opportunities to support both Aani and Jaywan as part of its planned UAE expansion.
Can Indian Travellers Already Use PhonePe in Dubai?
Yes. Indian travellers can already use PhonePe for certain payments in the UAE through existing cross-border payment arrangements.
PhonePe, in partnership with NPCI International Payments Limited, enables users to scan local QR codes and pay at participating NEOPAY and Network International terminals.
This is different from the proposed full UAE operation. The new CBUAE approval would allow PhonePe to work towards establishing a wider locally regulated payments business.
Why is the UAE Important for PhonePe?
The UAE has strong economic and travel links with India, making it a significant market for Indian digital-payment services.
PhonePe says its proposed UAE expansion is aligned with the country’s Financial Infrastructure Transformation programme and its broader digital-economy development.
The company also says its technology platform currently handles large transaction volumes in India.
As of August 2026, PhonePe reported more than 720 million registered users and a merchant acceptance network covering more than 50 million merchants in India.
PhonePe UAE vs Existing PhonePe Services in the UAE
There is an important distinction between what Indian travellers can do today and what PhonePe is preparing to offer through its planned local operation.
| Feature | Current cross-border service | Planned UAE operation |
| PhonePe app use | Available for eligible payments | Expected to continue |
| QR payments | Available at participating locations | Broader local integration planned |
| UAE regulatory licences | Not the same as local operation | In-principle approval received |
| Retail payment services | Cross-border arrangement | Planned local regulated service |
| Stored-value facilities | Not a full local operation | Licence approved in principle |
| Aani support | — | PhonePe plans to explore support |
| Jaywan support | — | PhonePe plans to explore support |
| Commercial UAE launch | Not applicable | Pending final approval |
What does the PhonePe UAE Approval Mean for Users?
For users, the biggest change will come only after PhonePe receives final regulatory approval and launches its UAE operation. Customers should not assume that all PhonePe services available in India will automatically become available in the UAE.
PhonePe has not yet announced complete details about:
- UAE account opening
- Local wallet features
- UAE-specific fees
- Transfer limits
- Card products
- Merchant onboarding
- Local money-transfer services
- Final launch date
These details are expected to become clearer after the remaining regulatory process is completed.
What Happens Next for PhonePe in the UAE?
The next step is final regulatory approval. PhonePe says it will continue working with UAE authorities to complete the requirements before beginning commercial operations.
Once approval is complete, the company plans to collaborate with regional banks, licensed payment service providers and local technology vendors. For consumers, the key information to watch will be the official launch date, available services, fees, transfer limits and supported UAE payment networks.
FAQs
1. Is PhonePe launching in the UAE?
PhonePe is preparing for a UAE launch after receiving in-principle approval from the Central Bank of the UAE for two payment-related licences. Final regulatory approval still required before commercial operations can begin.
2. When will PhonePe launch in the UAE?
PhonePe has not announced a confirmed commercial launch date. The company must first complete the remaining regulatory requirements and receive final approval.
3. What licences did PhonePe receive in the UAE?
PhonePe received in-principle approval for Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF) licences.
4. Can Indians use PhonePe in Dubai now?
Indian travellers can already use PhonePe for eligible cross-border QR payments at participating UAE payment terminals through existing arrangements with NPCI International Payments Limited.
5. Will PhonePe support Aani in the UAE?
PhonePe says it intends to explore opportunities to support Aani, the UAE’s domestic instant-payment rail, using its technology platform.
6. Will PhonePe support Jaywan?
PhonePe also intends to explore opportunities to support Jaywan, the UAE’s domestic card payment rail.
7. Is PhonePe’s UAE approval final?
No. The approval announced in September 2026 is an in-principle approval. PhonePe still needs to complete the required regulatory process and obtain final approval before starting commercial operations.
PhonePe UAE Launch: What Users Should Watch For?
PhonePe’s latest regulatory approval brings the company closer to establishing a local presence in the UAE.
For now, however, the full PhonePe UAE launch is still pending. The company has received the initial regulatory green light, but final approval and details of its commercial services are yet to be announced.
The next announcements from PhonePe and UAE regulators will be important for users looking for information about PhonePe UAE registration, fees, transfers, cards, merchant payments and Aani or Jaywan integration.