Taptap Send, a cross-border payments platform, has obtained three licenses from the Central Bank of the UAE (CBUAE), enabling it to broaden its services in the country beyond international remittances.
The licenses, announced on July 8, 2026, cover Stored Value Facilities, Retail Payment Services (Category II), and Exchange Business (Category IV). They position Taptap Send to offer local payments, digital wallets, and cards, primarily targeting diaspora communities in the UAE.
Taptap Send, which facilitates international money transfers from more than 35 sending countries to over 80 destinations, already operates in the UAE under prior regulatory approvals, including from the Dubai Financial Services Authority (DFSA) for its DIFC entity.
The new approvals allow the company to build a more comprehensive financial ecosystem onshore, including stored value and exchange capabilities.
โThe UAE is unlike anywhere else on earth over 200 nationalities, the highest concentration of expats of any nation, and a government that has put financial inclusion and innovation at the heart of its national agenda,โ said Michael Faye, CEO and co-founder of Taptap Send. โServing this community is exactly why we exist and weโre thankful for the trust by the Central Bank of the UAE.โ
The UAE hosts a large expatriate population, making it a key market for remittance and payments services. Taptap Sendโs expansion aligns with the countryโs push for digital financial inclusion.
The company has not disclosed specific timelines for rolling out new services such as digital wallets or cards. It plans to leverage the licenses to enhance offerings for users in the UAE and wider region.
Taptap Send is regulated in multiple jurisdictions, including the UK, EU, US, and Canada, and focuses on low-cost transfers to markets in Africa, Asia, the Caribbean, and Latin America.
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