Taptap Send has expanded its financial services presence in the United Arab Emirates after securing three licenses from the Central Bank of the UAE. The cross-border payments platform received licenses for Stored Value Facilities, Retail Payment Services under Category II, and Exchange Business under Category IV. The approvals position the company to broaden its offering beyond international money transfers and build a wider digital finance ecosystem for diaspora communities in the country.
A Broader Financial Services Offering
The new regulatory approvals allow Taptap Send to offer services including local and international payments, digital wallets, and cards in the UAE. These capabilities build on the company’s existing remittance business, which focuses on helping migrants and diaspora users send money quickly and affordably across borders. The move strengthens Taptap Send’s role in a market where global mobility, financial inclusion, and digital payment adoption are central to the country’s economic development.
Strategic Importance of the UAE
The UAE is a major market for cross-border payments because of its large expatriate population and deep links with economies across Asia, Africa, the Middle East, and beyond. Taptap Send said the country’s diverse population and policy focus on financial innovation make it a natural fit for the company’s mission. By expanding its licensed activities in the UAE, the company can serve users who need more than traditional remittance tools and increasingly expect integrated digital financial products.
Company Growth and Global Reach
Founded as a cross-border payments and international money transfer platform, Taptap Send has grown into one of the widely used services in its category. The company says it serves millions of users across more than 35 send markets, including the UAE and the wider Gulf region, while connecting customers to recipients in more than 80 countries. Its platform uses AI-native technology and broad payment rail coverage to make global payments faster, more affordable, and more accessible for everyday users.
Leadership Perspective
Michael Faye, CEO and Co-Founder of Taptap Send, described the UAE as a distinctive market because of its international population and commitment to financial inclusion. He said the company was grateful for the Central Bank of the UAE’s trust and viewed the approvals as closely aligned with its purpose of serving diaspora communities. His comments underline the company’s ambition to develop services that reflect the financial needs of people living and working across borders.
The three licenses represent a significant regulatory milestone for Taptap Send and a major step in its UAE expansion strategy. With authorization to support stored value, retail payments, and exchange activities, the company can move toward a fuller financial services model in one of the world’s most internationally connected markets. The development also reflects the UAE’s growing role as a hub for regulated fintech platforms serving global, mobile, and diaspora-focused customer bases.