The Central Bank of the UAE Awards Tap Payments a Full Retail Payment Services License
Tap Payments is now licensed in every GCC market, including the UAE. Businesses across the region can scale faster, backed by a fully compliant payments infrastructure.
Tap Payments has received a Retail Payment Services License from the Central Bank of the UAE (CBUAE), completing our full regulatory approvals across all GCC markets. This milestone strengthens our ability to support businesses with secure, compliant, and localized payment products across the region.
Simplifying Payments Across MENA
Tap Payments was founded with one goal. We simplify payments across MENA. Our products are built around local payment methods, market regulations, and real business needs. From Kuwait to Saudi Arabia to the UAE, we’ve worked hand in hand with regulators and merchants to make payments easier, faster, and more secure.
Compliance Comes First
Regulatory compliance has been a core focus from the start. We’ve worked closely with regulators in every market to secure licenses early, ensuring we meet the highest standards and build lasting trust.
With this new license from the Central Bank of the UAE, one of the region’s largest and most dynamic fintech markets, Tap Payments is now fully licensed across Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the UAE. This milestone cements our role as a trusted payments provider for businesses and regulators across the GCC.
The UAE at the Heart of Digital Transformation
The UAE’s digital payments sector is growing rapidly. By 2025, the total transaction value is projected to reach $80.37 billion, with a compound annual growth rate (CAGR) of 13.8% through 2029. If this trend continues, transaction value is expected to exceed $134.84 billion by 2029.
In addition, domestically initiated programs such as the Dubai Cashless Strategy (DCS), launched in October 2024, aim to encourage cashless payment options in the public and private sectors. The DCS initiative aims to facilitate cashless transactions for 90% of all payments by the year 2026, adding over AED 8 billion (US$2.2 billion) per annum to the economy using fintech innovation.
What This Means for Your Business
1. Access more growth opportunities in the UAE
Gain access to advanced payment products that help boost conversion rates, lower costs, and improve customer experience.
2. Scale across borders without barriers
With regulatory approval in every GCC country, you can accept payments and expand into new markets while staying fully compliant.
3. Trust a fully licensed provider
Tap Payments provides a secure, stable payments foundation for businesses, with full local compliance built in.
4. Reach more customers across the region
A single integration gives your business access to customers across MENA, without regulatory or technical roadblocks.
5. Built-in fraud protection and infrastructure security
We meet the highest security standards, helping businesses process payments reliably and safely.
Supporting Fintech Growth in the UAE
The UAE is now home to more than 180 licensed fintech companies, with Abu Dhabi and Dubai rising as innovation hubs in MENA. Wealthtech, digital banking, and alternative lending have grown by 80%, 150%, and 111% respectively from 2021 to 2024.
The license also aligns with the UAE’s broader digital transformation vision. Similar initiatives are spreading across the region, with programs like Saudi Vision 2030 aiming to raise non-cash transactions from 36 percent in 2019 to 70 percent by the end of this year.
Expanding Opportunities for Businesses in the UAE
Tap Payments’ full licensing in the UAE enhances our ability to support businesses with secure, high-standard payment products. Our infrastructure now powers leading UAE companies like Flydubai, Wego, InsuranceMarket, Prypco, and LuLu Hypermarkets, along with major merchants across the GCC, including Talabat, Trendyol, Careem, Marks & Spencer, BYD Auto, Tim Hortons, and TikTok. By delivering reliable and efficient payment infrastructure, Tap Payments helps businesses scale and connect across MENA, unlocking new market opportunities.
Raising the Bar for Compliance and Growth
With full licensing across the GCC, Tap Payments gives businesses the confidence to scale across borders without compliance headaches. We’ve built the infrastructure that makes payments easier, faster, and safer backed by deep local expertise and close collaboration with regulators.
As more businesses expand across MENA, we’re here to support them with trusted payment products built for real-world challenges. This license isn’t just a milestone, it’s proof that Tap Payments is leading the way in secure, compliant payments built for how MENA businesses operate today.
Want to accept payments across MENA? Email us at hello@tap.company or visit our website to get started.
