PhonePe will soon launch operations in the United Arab Emirates after receiving a licence from the Central Bank of the UAE. This will be PhonePe’s first overseas market.
PhonePe had more than 71.5 crore registered users as of July 2026 and an acceptance network of over 5 crore merchants.
Sameer Nigam, Founder and CEO, PhonePe, said on September 9 that the company is preparing to operationalise the licence. He was speaking to reporters on the sidelines of the Global Fintech Festival 2026 in Mumbai.
The UAE business will allow PhonePe to offer services including its own wallet, gift cards and remittances, besides enabling local merchant payments, Nigam said.
Nigam said the UAE would be PhonePe’s first foreign market and that the company intends to build a global business over the next decade.
PhonePe has also launched cross-border QR payment feature. The cross-border QR payment feature will initially cover 14 international markets, including Singapore, Malaysia, Thailand, Vietnam, Indonesia, Sri Lanka, Japan, China and South Korea. The company plans to roll out the services in phases.
PhonePe has also launched Smart Accept feature which will allow compatible smartphones to function as contactless card acceptance devices, potentially reducing the need for small merchants to purchase dedicated POS terminals.
