PhonePe’s UAE push is more than UPI: What its first overseas licences mean

Digital payments platform PhonePe said on Tuesday, September 22, that it has secured in-principle approval (IPA) from the Central Bank of the UAE (CBUAE) for two licences, following the successful completion of the initial regulatory due diligence.

These are PhonePe’s first overseas licences, and will allow the fintech company to expand operations in the Middle Eastern country, the company said in a press release.