Checkout.com has received in-principle approval for a Stored Value Facilities licence from the Central Bank of the UAE, marking a significant regulatory milestone for the global digital payments company as it expands its footprint in the region.
The approval will allow Checkout.com to introduce card issuing capabilities alongside its existing acquiring services, bringing both functions together on a single unified platform. Businesses using the platform will be able to link acquiring, issuing and business account capabilities, allowing them to fund cards directly from acquired balances.
This integration removes the need for companies to pre-fund their card programmes, a shift that improves liquidity and gives businesses greater visibility and control over their funds.
Remo Giovanni Abbondandolo, General Manager for MENA at Checkout.com, said the UAE has established itself as a leading global fintech hub, citing its high digital adoption and forward-looking regulatory environment as key factors that make it an attractive market for innovation and growth.
He added that the milestone brings the company closer to offering UAE merchants a truly unified payments platform, with acquiring and issuing combined and performance placed at the centre of the offering.
The announcement comes as Checkout.com continues to build momentum across the Middle East and North Africa region. The company recorded a 62 percent year on year increase in total processing volume between 2024 and 2025.
The move also aligns with the UAE's broader FinTech Strategy, which is being implemented by the Central Bank of the UAE. For Checkout.com, the development represents a meaningful step toward delivering its full global payments proposition to merchants operating in the country, reinforcing its long term commitment to the local market.
News Source: Emirates News Agency
