KamelPay secures UAE payment licence approval

By Milan Rojan

UAE-based FinTech KamelPay has received in-principle approval from the Central Bank of the UAE (CBUAE) for Stored Value Facilities (SVF) and Retail Payment Services (RPS) licences, marking a key regulatory milestone in the company’s expansion.

The approval has positioned KamelPay to progress towards offering regulated payment services in the UAE, supporting its strategy to strengthen digital payment capabilities for businesses and employees.

KamelPay said the approvals will enable it to develop an integrated payments platform covering payroll and business payments. The company has aimed to help organisations improve payment transparency, operational efficiency and compliance while providing employees with more reliable salary access and financial services for day-to-day money management.

The FinTech, which was founded in the UAE, said the milestone reinforces its focus on supporting local businesses and the country’s broader digital transformation agenda.

Ehsan Rahman, Chief Executive Officer, KamelPay, said: “These licences strengthen our payment solutions by giving customers greater confidence, stronger compliance, and the opportunity for us to develop bigger and newer solutions.”

KamelPay said the development has aligned with the UAE Vision 2030, which has aimed to accelerate digital growth, financial innovation and greater financial inclusion across the country.

The in-principle approval has represented an important step in the licensing process and reflects the growing role of regulated FinTech providers within the UAE’s evolving payments ecosystem. Once the required regulatory conditions have been met and final authorisation has been granted, KamelPay is expected to further expand its payment offerings for corporate customers and their workforces.

The company has remained focused on delivering digital payment solutions that support businesses while improving financial accessibility and payment experiences for employees across the UAE.