
PhonePe has received in-principle approval for two payment licences from the UAE central bank, marking a significant step in its international expansion. The fintech aims to enhance its services in the UAE beyond UPI, introducing support for local payment methods like Aani and Jaywan. This move positions PhonePe as a key player in the UAE's growing fintech landscape, promising innovative solutions for users.
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"PhonePe is taking its talents abroad—let's see if they can cash in!"
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UPI's new 0.4% MDR on large merchant payments aims to sustain free transactions. This revenue will support infrastructure, cybersecurity, and innovation in digital payments. As UPI scales, maintaining a balance between funding and user accessibility is crucial for its future.
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