Paymob, the leading financial services enabler in MENA-P, announced that it has been granted the Retail Payment Services license by the Central Bank of the UAE (CBUAE).
The license authorises Paymob to offer merchant acquiring, payment aggregation services, and domestic fund transfers within the UAE.
The regulatory nod also enables the company to provide merchants with its full suite of omni-channel solutions that drive growth and competitiveness.
Co-founder and CEO Islam Shawky said: “This license reflects the trust CBUAE has placed in Paymob to support the UAE’s vision for a cashless, digitally connected economy. As digital payments accelerate across the UAE, we are committed to equipping merchants with scalable tools that enable them to thrive in this dynamic market.”
With a track record of supporting over 390,000 merchants across MENA-P since 2018, the company has enabled businesses of all sizes – from local SMEs to regional and global brands like Decathlon, Vodafone, LG, Uber, IKEA, and Shahid – to optimise payment performance and unlock new revenue streams.
This expertise positions Paymob to deliver measurable value to UAE merchants in a rapidly evolving digital landscape, the company said.
With operations in UAE, Egypt, KSA, Oman, and Pakistan, Paymob leverages its regional expertise to empower merchants with aggregated payment solutions across in-store, online, and mobile channels.
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