Checkout.com Secures In-Principle UAE Licence to Expand Digital Payment Services

Business

Checkout.com Secures In-Principle UAE Licence to Expand Digital Payment Services

Global digital payments company Checkout.com has received in-principle approval from the Central Bank of the UAE (CBUAE) for a Stored Value Facilities (SVF) licence, paving the way for the company to expand its payment offerings by combining issuing and acquiring services on a single platform for merchants in the UAE.

The regulatory approval marks a significant milestone in Checkout.com's expansion strategy in the country and supports the UAE's ambition to strengthen its position as a global fintech hub.

Once fully operational, the SVF licence will enable Checkout.com to introduce card issuing capabilities alongside its existing payment acquiring services, allowing businesses to manage payment acceptance and card issuance through a unified platform.

Unified Payments Platform for Merchants

Checkout.com said its acquiring and issuing services are available as standalone solutions, enabling merchants to adopt either service independently based on their business requirements.

Businesses choosing both services will benefit from an integrated payments ecosystem that combines acquiring, issuing and business account capabilities, offering shared data, simplified operations and improved payment performance.

The unified platform will also allow merchants to fund payment cards directly from acquired balances, eliminating the need to pre-fund card programmes. According to the company, this approach is expected to improve liquidity management, enhance cash flow visibility and reduce operational complexity.

Supporting UAE's Fintech Growth

Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, said the UAE continues to provide an ideal environment for financial technology innovation due to its advanced digital ecosystem and progressive regulatory framework.

He thanked the Central Bank of the UAE for its support during the licensing process, adding that the approval brings the company closer to delivering a fully integrated payments platform for UAE merchants.

Abbondandolo said the combined acquiring and issuing solution is designed to help businesses simplify payment operations, improve liquidity and create new payment experiences for customers, partners and employees.

Regional Expansion

Checkout.com reported strong growth across the Middle East and North Africa (MENA) region, with its total payment processing volume increasing by 62% year-on-year between 2024 and 2025.

The company said the in-principle approval aligns with the UAE FinTech Strategy, led by the Central Bank of the UAE, and represents an important step towards bringing its full suite of global payment solutions to merchants operating in the country.