Table of Contents
Checkout.com has received in-principle approval for a Stored Value Facilities (SVF) license from the Central Bank of the UAE, adding card issuing capability to the acquiring license it has held in the country since 2023. The approval was announced July 27, 2026.
Key takeaways
- Checkout.com has won in-principle approval for a UAE stored value facilities license, which would let it issue cards alongside its existing acquiring license once the license becomes fully operational.
- The approval is in-principle only, not final. Checkout.com still needs to complete an operational phase before merchants can actually use the combined capabilities.
- The company said its MENA processing volume grew 62% year on year between 2024 and 2025, the business context it points to behind the expansion.
What the license would let Checkout.com do
Once operational, the stored value facilities license would let Checkout.com link acquiring, issuing, and business account capabilities on a single platform. The company said merchants would be able to fund cards directly from acquired balances, removing the need to pre-fund card programs separately and giving businesses clearer visibility over how funds move through their accounts.
Remo Giovanni Abbondandolo, general manager for MENA at Checkout.com, said the approval “moves us closer to providing UAE merchants with a truly unified payments platform, bringing acquiring and issuing together with performance at the centre of the equation.”
In-principle, not yet final
An in-principle approval is a preliminary regulatory clearance, not an operational license. Checkout.com still needs to complete a further operational phase with the Central Bank before the license is final and merchants can actually use the combined acquiring and issuing capabilities. The company hasn’t given a timeline for when that phase will be complete.
This builds on Checkout.com’s existing UAE presence: a Retail Payment Services (acquiring) license secured from the Central Bank in 2023, which made it the first global payments platform to hold an acquiring license in the country.
Why it matters
For UAE merchants
If the license becomes operational, merchants using Checkout.com would get card issuing and acquiring on one platform instead of managing separate providers and pre-funding card programs independently. That’s a real operational simplification, but it doesn’t exist yet. Merchants can’t use any of this until Checkout.com completes the steps between in-principle and final approval.
For Checkout.com’s regional strategy
The approval extends a UAE presence Checkout.com has built steadily since 2023, and the 62% MENA processing growth figure suggests the region is a genuine growth driver, not a token expansion. Adding issuing to its existing acquiring license would let the company compete for a larger share of a merchant’s payment stack instead of just one part of it.
The bottom line
Checkout.com has cleared a real regulatory step, not just announced an intention. Whether it matters commercially depends on how quickly the company moves from in-principle to final approval and actually launches issuing for UAE merchants. That gap is the thing worth watching next, not this announcement itself.
FAQ
What did Checkout.com just receive?
In-principle approval for a Stored Value Facilities license from the Central Bank of the UAE, adding card issuing to its existing acquiring license.
Is the in-principle approval for UAE stored value facilities license a final one?
No. In-principle approval is a preliminary clearance. Checkout.com still needs to complete an operational phase before the license is final and merchants can use it.
What license does Checkout.com already have in the UAE?
A Retail Payment Services (acquiring) license from the Central Bank of the UAE, secured in 2023.
What would the license let Checkout.com do once operational?
Link acquiring, issuing, and business accounts on one platform, letting merchants fund cards directly from acquired balances instead of pre-funding card programs separately.
Has Checkout.com said when the license will be fully operational?
No. The company hasn’t given a timeline for completing the operational phase that follows in-principle approval.
Editor’s take: Checkout.com has real momentum behind this, 62% MENA processing growth is a genuine number, and an in-principle approval is a real regulatory step, not a vague announcement. The unified platform pitch, acquiring and issuing on one system, is genuinely useful for merchants if it ships. Right now it’s still a pending step, not a live product, and Checkout.com hasn’t said how long the gap to full operation will be. That timeline, not this announcement, is the thing worth checking back on.