e& money Secures UAE Banking Licence, Launches Lending into Digital Payments Sphere

e& money is stepping into a new chapter. The company has secured a Finance Company licence from the Central Bank of the UAE, a move that shifts its role from simply enabling digital payments to offering direct lending services. In plain terms, it’s no longer just about helping people pay and transfer money — it’s about giving them access to credit as well.

For a platform that already serves more than 2 million users across the UAE, this is not a small leap. Over the past few years, e& money has built one of the country’s largest digital payment ecosystems, covering everyday purchases, international remittances and card spending. Those services helped it gain scale and, more importantly, trust. And in fintech, trust is half the battle won.

Now, with regulatory approval in hand, the company plans to integrate lending into its existing app. This won’t sit as a separate add-on. Instead, credit products will be part of the same digital journey users already know. The focus, according to statements from the company, is on reaching individuals who have struggled to access traditional banking loans — not because they are high risk, but because they fall outside conventional assessment models.

Khalifa Al Shamsi, CEO of e& life and e& international, said that while the UAE has achieved near-universal financial inclusion, gaps still exist in access to conventional lending. “At e& money, we believe its about facilitating access — this is not a risk issue, it’s an access issue,” he said, adding that the company is rethinking how credit is assessed and delivered through data and technology.

That idea of using data to widen access is interesting. Instead of relying only on traditional credit histories, e& money says it will use transaction behaviour, alternative data, and AI-driven analytics to build enhanced credit scoring models. In theory, that could open doors for people who may have steady income and responsible spending habits but lack formal credit records. I’ve met founders across MENA who faced this exact issue when trying to secure personal or small business loans — plenty of cash flow, but no long credit file. It can be a bit of a faff, to be honest.

The lending products will roll out in stages. Early offerings are expected to include buy-now-pay-later options, early wage access, credit cards, and other structured solutions. The company says these products will be designed with transparency and affordability at the core. That’s spot on in principle, though as always, execution will matter more than ambition.

On the flip side, expanding into lending is no walk in the park. Regulatory compliance, risk management and customer protection standards are much heavier responsibilities than running a payments wallet. But securing a Finance Company licence suggests the groundwork has been carefully laid.

Within the broader e& ecosystem, this move also strengthens the group’s push into financial services as part of its digital transformation drive. The bigger picture here is about evolving into what many call a “financial superapp” — a single platform covering everything from daily transactions to credit and financial planning. I reckon we’ll see more of this convergence across the region in the coming years, especially as digital adoption remains high.

For the UAE’s fintech scene, this development definately adds another layer of competition — and opportunity. And for users who may have felt overlooked by traditional lenders, it could well mean new doors opening. In a market that’s already digitally advanced, expanding meaningful access to credit might just be the next logical step.

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