KamelPay Secures CBUAE Licenses to Scale Digital Payroll and Business Payments

Quick Summary

KamelPay has secured Stored Value Facilities (SVF) and Retail Payment Services (RPS) licenses from the Central Bank of the UAE. This regulatory milestone allows the fintech to scale its digital payroll solutions and corporate payment services for over 400,000 employees across the Emirates.

How does KamelPay solve payroll challenges for UAE businesses?

Digital payroll solutions are essential for the UAE's diverse workforce, and KamelPay addresses this by providing a regulated payment infrastructure that ensures security and compliance. By securing SVF and RPS licenses, the company can now operate its services independently, offering greater operational flexibility to its 2,000+ corporate clients. This move directly supports the UAE's digitisation agenda by bridging the gap between traditional banking and the unbanked or underbanked workforce.

• Supports over 400,000 employees nationwide.
• Serves 2,000+ corporate entities across multiple sectors.
• Partnerships with 10 leading banks and exchange houses.

What results has KamelPay delivered for the regional economy?

Financial inclusion metrics show that KamelPay is a major player in the UAE's digital economy transition. Since its 2021 launch, the platform has scaled rapidly to support government organisations and large private-sector firms in sectors like construction and logistics. The new licenses allow KamelPay to move beyond being a service provider to a fully regulated ecosystem, reducing reliance on third-party infrastructure and accelerating the time-to-market for new financial products like AbsoluteCard.

How do the SVF and RPS licenses impact corporate finance?

Corporate expense management receives a significant boost through KamelPay’s AbsoluteCard, which provides transparency and control for finance teams. The CBUAE licenses ensure that these business payment solutions meet the highest standards of security and reliability. This regulatory backing gives finance directors the confidence to digitise their entire payment workflow, from worker salaries to day-to-day operational expenses, within a single compliant platform.

"These licences represent far more than regulatory approval; they fundamentally strengthen KamelPay's operating model. By running our services on our own regulated payment infrastructure, we gain greater flexibility to innovate, bring new capabilities to market faster, and create even more value for our customers. It positions us to continue expanding our capabilities while maintaining the high standards of compliance, security, and reliability expected from a regulated financial ecosystem." said Saadaat Yaqub, Co-Founder & Director of KamelPay.

FF NEWS TAKE:

KamelPay securing these licenses is a major win for the UAE fintech scene. By moving onto its own regulated payment infrastructure, KamelPay isn't just another app; it’s becoming a foundational piece of market infrastructure. This move significantly moves the needle for financial inclusion in the region, proving that local fintechs can successfully navigate complex regulatory frameworks to compete with global giants in the payroll and corporate spend space.