Finseta secures licence to expand payment services in the UAE

By Gloria Methri

Finseta, a foreign exchange and payments solutions provider, has been granted a Category 3D licence (DFSA Licence) by the Dubai Financial Services Authority (DFSA). This license allows the company to offer multi-currency accounts and payment services to businesses and individuals across the United Arab Emirates (UAE) through its proprietary technology platform.

The licence, issued to Finseta’s wholly owned, Dubai-registered subsidiary, marks a significant milestone in the company’s strategy to expand its global footprint and strengthen its regulatory framework.

The UAE, notably the Dubai International Financial Centre (DIFC), presents a significant growth opportunity as a leading global financial hub. With a dynamic ecosystem of international businesses—including a strong presence of professional services firms—Finseta looks to expand its introducer-led customer acquisition model.

Finseta already has a presence in Dubai, where it has been building a robust partner network. With the DFSA Licence, the company can now broaden its services, catering to corporate and professional clients while leveraging local payment rails to enhance its offerings.

Finseta’s expansion in the UAE, alongside its planned investment in sales, compliance, and operations in 2025, is set to capitalise on growth opportunities in Canada following its regulatory licence approval in 2024. Additionally, the company is scaling up its corporate card programme, which was officially launched on 3 March 2025.

James Hickman, CEO of Finseta, said, “The receipt of this licence marks another milestone in the execution of our strategy. As one of the world’s top financial centres, Dubai represents a significant opportunity for Finseta. We already have established foundations there, which, with some initial investment, we expect to scale to drive strong growth in this market. Our introducer-led go-to-market approach is also particularly well-suited to this business environment with international professional services and advisory firms having a substantial presence. We look forward to expanding our activities in Dubai and reporting on our progress.”