PhonePe gets UAE central bank approval as 1st international market

Business Sep 09, 2026

PhonePe, one of India's top fintech apps, just got the green light from the Central Bank of the United Arab Emirates to start operations there.

CEO Sameer Nigam shared the news at the Global Fintech Festival, calling it a big first step in taking PhonePe global.

The UAE is now their first international market outside India.

PhonePe to offer UAE remittance services

With this license, PhonePe will roll out a local digital wallet and gift cards, and make it easier for Indians in the UAE to send money home.

They're also setting up payment options for local shops using point-of-sale devices.

Nigam highlighted that PhonePe will offer remittance services for the diaspora, and users may be able to send money to India.