DLA Piper advises fintech platform Adyen on obtaining UAE Central Bank Retail Payments Services license

DLA Piper has advised Adyen, a leading global financial technology platform, on obtaining a Retail Payments Services Category II license from the Central Bank of the UAE (CBUAE). The license marks a significant milestone in Adyen's continued expansion in the UAE and strengthens its operational capabilities by enabling it to manage local payment settlements directly, without relying on third-party providers.

The license also enhances oversight of compliance and settlement processes, supporting a more streamlined, secure and locally aligned payments experience for merchants.

This represents the next phase of Adyen’s growth in the UAE, where it has operated since 2020, and provides payment services to leading brands including Careem, Ellington Properties, Gargash Group, Noon and Ziina.

The license positions Adyen to further develop its local capabilities across areas such as fraud prevention, emerging payment methods and unified commerce, and support future innovation.

Our cross-border and multi-jurisdictional team was led by partners Adrianus Schoorl (Lit&Reg, Dubai) and Paul Hopman (Lit&Reg, Amsterdam). They were supported by senior associate Andrew Morrison and associates Milan Happe and Anushri Uttarwar.

Adrianus Schoorl, partner and Head of Financial Services Regulatory (MENA), commented: “Obtaining a Retail Payments Services license is an important regulatory milestone that reinforces Adyen's long-term commitment to the UAE market. The UAE Central Bank has established a regulatory framework that is attracting leading global payments providers while maintaining high standards of oversight and consumer protection. As more international fintechs seek to establish regulated, on-the-ground operations, we are likely to see increased investment, greater innovation and stronger competition, ultimately benefiting merchants and customers alike.”

Paul Hopman, partner and Global Co-Chair, Litigation and Regulatory, commented: “This license marks an important step in Adyen's continued investment in the UAE and strengthens its ability to serve merchants through a more integrated local payments offering. It also positions the business to continue innovating and expanding its capabilities in one of the region’s most dynamic payments markets.”