NewzIndia-based digital payments firm PhonePe has received initial approval from the Central Bank of the United Arab Emirates to operate payment services within the country. This regulatory milestone allows the company to expand its financial technology footprint into the UAE market, marking a significant step in its international growth strategy.
The development follows PhonePe's broader efforts to extend its digital payment infrastructure beyond India. By securing this initial authorization, the firm moves closer to facilitating cross-border and local payment solutions for users and businesses operating within the UAE's financial ecosystem.
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