UAE Central Bank Grants Checkout.com Initial Approval for Stored Value Facilities License

Dubai | EcoPulse24

Checkout.com, the global digital payments company, announced that it has received initial approval from the Central Bank of the United Arab Emirates (CBUAE) for a Stored Value Facilities (SVF) license, marking a significant regulatory milestone that will enable the company to expand its payment capabilities in the UAE.

The approval is expected to allow Checkout.com to offer card issuing services alongside its existing payment acquiring solutions, creating a unified, high-performance platform designed to help businesses streamline payment operations and improve cash flow management.

Unified Platform for Merchants

The company currently offers payment acquiring and card issuing as flexible standalone products, allowing merchants to adopt either solution independently based on their operational needs.

Once operational under the SVF framework, businesses choosing both services will be able to connect payment acceptance, commercial accounts, and card issuing through a single platform. This integrated approach is designed to simplify payment flows, enable shared transaction data, reduce operational complexity, and improve overall financial efficiency.

Merchants will also be able to fund issued cards directly from accepted payment balances, eliminating the need to pre-fund card programs while improving liquidity management and providing greater visibility and control over corporate funds.

Strengthening the UAE's Fintech Ecosystem

Remo Giovanni Abbondandolo, General Manager for the Middle East and North Africa at Checkout.com, said the UAE has firmly established itself as one of the world's leading fintech hubs thanks to its high digital adoption rates and forward-looking regulatory environment.

"The UAE has created an exceptional environment for innovation and growth. We appreciate the continued support and close collaboration of the Central Bank of the UAE throughout this approval process," he said.

He added that the milestone brings Checkout.com closer to delivering a fully integrated payments platform in the UAE, combining acquiring and issuing capabilities while enabling merchants to reduce complexity, improve liquidity, and create new payment experiences for customers, partners, and employees.

Regional Payment Volumes Continue to Grow

Checkout.com reported strong momentum across the Middle East and North Africa, with its total payment processing volume increasing 62% year-over-year between 2024 and 2025.

The company said the announcement aligns with the UAE's national fintech strategy led by the Central Bank and represents another step toward making its complete suite of global payment solutions available to merchants operating in the country.

More Than $300 Billion Processed in 2025

Checkout.com processes digital payments for thousands of businesses worldwide, supporting transactions in more than 145 currencies while handling billions of transactions annually.

In 2025, the company processed more than $300 billion in global e-commerce payment volume.

Its client portfolio includes major international brands such as:

• Alshaya Group

• Agoda

• Botim

• eBay

• Dyson

• Talabat

• Instashop

• du Pay

• Majid Al Futtaim

• Netflix

• SHEIN

• Sony

• Tamara

• Uber

Headquartered in London, Checkout.com operates 19 offices worldwide.

Key Figures

EcoPulse24 Analysis

The Central Bank of the UAE's initial approval marks an important regulatory milestone for Checkout.com as it expands its financial infrastructure in one of the region's fastest-growing fintech markets. By combining payment acquiring and card issuing within a unified platform, the company aims to simplify treasury operations, improve liquidity management, and provide merchants with greater operational flexibility. The announcement also underscores the UAE's continued efforts to position itself as a leading global fintech hub through a supportive regulatory framework that attracts international payment technology providers and accelerates digital financial innovation.