Paymob secures UAE license for retail payment services

By Gloria Methri

Paymob, the financial services enabler in the MENA-P region, has been granted the Retail Payment Services license by the Central Bank of the UAE.

The license authorises Paymob to offer merchant acquiring, payment aggregation services, and domestic fund transfers within the UAE. This strengthens Paymob’s position in the UAE’s digital payments ecosystem, enabling the company to provide merchants with its full suite of omni-channel solutions.

With a track record of supporting over 390,000 merchants across MENA-P since 2018, Paymob 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 enables Paymob to deliver measurable value to UAE merchants in a rapidly evolving digital landscape.

Islam Shawky, Paymob’s Co-founder and CEO, 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.”

Omar Haddad, Paymob’s General Manager of GCC Cluster II, said, “ This approval is a significant milestone that enables Paymob to deliver localised payment solutions tailored to the needs of UAE merchants. We are proud to align with the Central Bank’s vision of a cashless digital economy and are honoured by the trust placed in us.”

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. Paymob’s focus on localised solutions ensures that merchants can accept payments using over 50 methods, including major international cards, flexible regional options such as Tabby and Tamara, and a variety of mobile wallets. By simplifying payment processes and supporting merchants at every stage of their growth, Paymob enables businesses to reach new customers with ease and agility.

The RPS license will enable Paymob to accelerate the growth of its team and its merchant base in the UAE.