UAE Payment Platforms Want to Hold Your Money Now. The License Gap Matters
Two UAE fintech announcements landed within 48 hours of each other. Checkout.com said it received in-principle Central Bank approval for a Stored Value Facilities license. Pemo announced the same regulatory stage a day later. The announcements point to a wider change. Payment and spend-management platforms no longer want to only move money between a customer and a bank. They want the regulated ability to issue wallets, hold value, fund cards, and build more of the financial relationship inside their own products. But the words “in-principle” are doing important work. They…
