World & BusinessPhonePe reportedly wins UAE approval for its first move abroad
Semafor reports that India’s biggest payments app, backed by Walmart, received UAE Central Bank approval to launch in the country.
TLDR
PhonePe has won UAE Central Bank approval to launch in the country, marking the Walmart-backed company’s first move abroad, Semafor reports. The outlet says the UAE fintech industry is projected to nearly double by 2029, after attracting a third of the country’s startup funding in 2024.
PhonePe reportedly wins UAE approval for its first move abroad
Semafor reports that India’s biggest payments app, backed by Walmart, received UAE Central Bank approval to launch in the country.
TLDR
PhonePe has won UAE Central Bank approval to launch in the country, marking the Walmart-backed company’s first move abroad, Semafor reports. The outlet says the UAE fintech industry is projected to nearly double by 2029, after attracting a third of the country’s startup funding in 2024.