PhonePe gets UAE Central Bank nod for two payment licences

New Delhi, Sep 22 (UNI) PhonePe has received in-principle approval from the Central Bank of the UAE for two licences that will allow it to offer services covering retail payments, card schemes and stored-value facilities, marking a significant step in its planned expansion into the Gulf market. The Walmart-backed fintech said the approval came after the UAE central bank completed its initial regulatory due diligence. However, PhonePe will need to secure final regulatory approval and complete the remaining compliance requirements before starting commercial operations in the country. Following the final approval, PhonePe plans to work with regional banks, licensed payment…