KamelPay just got approval from the Central Bank of the UAE to operate Stored Value Facilities and Retail Payment Services. This is a big deal for the fintech company because it means they can now run their own payment network. For businesses in the UAE, this opens up new possibilities when it comes to handling payroll and managing corporate spending.
Getting SVF and RPS licences means KamelPay can build and control its own payment infrastructure instead of relying on other providers. This gives them room to develop new products without waiting for third parties. It also means faster rollouts when they want to add features.
Running payroll and tracking expenses across multiple locations is messy. Companies often deal with delayed payments, lost receipts, and compliance headaches. The new regulatory status gives KamelPay the green light to offer solutions that handle these problems properly. Businesses using their platform now know they’re working with a Central Bank regulated entity, which matters when you’re moving company money around.
KamelPay already works with over 2,000 companies and handles payments for 400,000 plus employees. Having Central Bank oversight adds a layer of security that clients appreciate.
KamelPay built two main products to tackle specific problems that companies face. Each one handles a different part of the payment puzzle.
PayD is their payroll tool. Getting wages to workers sounds simple, but it gets complicated when you have staff without bank accounts or spread across different locations. PayD handles this by making sure everyone gets paid on time and in line with local rules.
AbsoluteCard is for managing company spending. Finance teams spend way too much time chasing receipts and reconciling expenses. This card based system gives companies a cleaner way to track who spent what and where the money went.
They’ve built partnerships with over ten banks and exchange houses in the UAE. This means their products slot into the existing financial system without friction. Anyone following the growth of the UAE’s digital payment ecosystem has probably noticed how quickly local payment infrastructure is evolving, especially with the introduction of systems such as the Jaywan card network.
The Central Bank doesn’t hand out licences easily. Getting one means KamelPay passed strict tests on security, compliance, and operational standards. For companies choosing a payment partner, this approval cuts down the risk significantly.
When a provider is regulated, it means they follow rules about protecting customer data, preventing money laundering, and keeping funds secure. The UAE is serious about building a trustworthy digital economy, and regulated players like KamelPay are part of that picture.
Being licensed also lets fintech companies innovate within guardrails. They can build solutions that fit what local businesses actually need instead of forcing generic global products. We’ve seen the same pattern across many fintech companies in the UAE, where businesses are focusing on locally built payment systems designed around the region’s regulations and customer expectations.
The UAE is moving away from cash and paperwork. Companies that don’t adapt to digital payments will find themselves at a disadvantage. KamelPay’s expansion signals that more sophisticated payment tools are coming.
With these new licences, expect KamelPay to roll out features that bring payroll, vendor payments, and employee expenses into one place. Companies will get better visibility and control. The whole process becomes less fragmented.
This fits into the bigger picture of UAE’s push to digitise everything. When workers have reliable access to their wages through digital channels, the whole economy benefits.
What exactly did KamelPay get approved for?
The Central Bank of the UAE approved KamelPay for two things: Stored Value Facilities (SVF) and Retail Payment Services (RPS). This lets them run their own regulated payment network.
How does PayD work for companies?
PayD is KamelPay’s payroll product. It gets wages to employees reliably and on schedule. It works for companies with workers who may not have traditional bank accounts, which is common across construction, retail, and logistics sectors.
What does AbsoluteCard do?
AbsoluteCard is a corporate spending tool. Employees get a card, they spend company money, and the finance team sees everything in real time. No more hunting for receipts or guessing where money went.
Why should companies care about regulatory approval?
Regulated payment providers follow strict rules about security and compliance. When you use a licensed provider, your company’s financial data and transactions get better protection. It also means the provider won’t suddenly disappear or break the law.
Disclaimer: This article is intended for informational purposes only. Licensing details, product features, and regulatory information may change over time, so readers should refer to official announcements from KamelPay and the Central Bank of the UAE for the latest updates.
The journal of record for technology decisions in the UAE. Trusted reporting, in-depth analysis, and expert insights connecting business leaders, innovators, and technology professionals with the trends shaping digital transformation.
© 2026 Eyes On Solution. All rights reserved.
