PhonePe has received in-principle approval from the Central Bank of the UAE for two operating licenses, marking the first international expansion of the company.
The licenses include Retail Payment Services and Card Schemes (RPSCS) and Stored Value Facilities (SVF).
PhonePe, a fintech firm based in Bengaluru, has launched its first local operations in the UAE. The company has secured two licenses to offer consumer payment instruments and to provide e-payment acceptance infrastructure for merchants.
PhonePe has launched ‘UPI 123Pay’, a service enabling feature phone users to conduct UPI transactions without internet connectivity. The service uses a Short Message Service (SMS)-based system to ensure secure transactions even in low network coverage areas.
This initiative aims to promote financial inclusion by providing digital payment capabilities to the non-smartphone user demographic in India.
The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry has signed MoUs with PhonePe and Shell India Pvt Ltd to bolster the support infrastructure for DPIIT-recognised startups and to accelerate innovation across strategic sectors of the Indian economy.
The Ministry of Electronics and Information Technology (MeitY) has signed an MoU with PhonePe to leverage insights from the enterprise data intelligence platform of the latter, PhonePe PulsePro, to support the PM GatiShakti mission.
Under the partnership, the metrics of the platform will be integrated into the PM GatiShakti National Master Plan portal, which is managed in collaboration with the Bhaskaracharya National Institute for Space Applications and Geo-informatics (BISAG-N).
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"It is very helpful platform to study current affairs. It has memory technique which saves lots of time during preparartion."
"Came across Editorial Vocabulary podcast video accidentally and really loved the idea. Its really useful for my preparation."
"Wonderful session. Thank you so much and really hats off to you for making current affairs and editorial an easy one."
"This is one the best app for Current Affairs. The content is cut and short whichever is required and is easy to remember with flashcards."
"Thx to daily quizzes. It played a big role in revisions. April 2024 - April 2025 I missed quizzes 3 or 4 days only. It's that interesting."
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