UAE grants Revolut two full payments licences

Revolut has secured two major licenses in the UAE, allowing it to offer digital wallets and retail payment services in the region. For retailers and operators, this signals the expansion of one of the world's most aggressive fintech ecosystems into a key global market. While the initial focus is on payments, Revolut’s history suggests that consumer credit, Buy Now, Pay Later (BNPL), and merchant financing tools will likely follow. If you operate in international markets or have customers with ties to the Middle East, this move increases the competition for traditional banks. Revolut often undercuts established providers on fees and offers a more seamless mobile interface for customers to manage their spending. Retailers should keep an eye on Revolut’s merchant services as they roll out. The ability to accept payments via a globally recognized fintech app can lower transaction friction for a tech-savvy customer base. This expansion is another sign of the shifting landscape where non-bank entities are becoming primary financial hubs for consumers at the point of sale.

Source: Finextra

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