Partnership with Tabby to enhance BNPL offerings as company scales payments and multi-currency services across the region
Global financial technology platform Airwallex is accelerating its Middle East expansion, securing regulatory approvals, establishing new entities, and forming strategic partnerships to strengthen its presence in the UAE and Saudi Arabia.
UAE Payments Approval
In the United Arab Emirates, Airwallex has received In-Principle Approval from the Central Bank of the UAE for Stored Value Facilities (SVF) and Retail Payment Services (RPS Category II) licences.
This approval includes the launch of a Stored Value Facilities wallet, supporting businesses of all sizes, including SMEs. Once fully operational, Airwallex will be able to offer:
Multi-currency accounts
Global transfers
Payment acceptance solutions
Corporate cards
The company is also scaling up its UAE office presence and workforce in preparation for going live.
Saudi Arabia Market Entry
In Saudi Arabia, Airwallex has officially incorporated a new entity, approved by the Ministry of Investment, signaling its long-term commitment to supporting the Kingdom’s Vision 2030 digital economy ambitions.
Partnership With Tabby
To enhance merchant offerings, Airwallex has partnered with Tabby, the region’s leading buy now, pay later (BNPL) provider. This integration will enable merchants in the UAE and Saudi Arabia to offer BNPL payment options, helping drive:
Localized checkout experiences
Higher conversion rates
Larger basket sizes
Increased customer engagement
Jack Zhang, Co-Founder and CEO of Airwallex said:
“We are building the future of global banking and finance, and when you consider the UAE’s 2031 Vision and Saudi Vision 2030, nowhere is more forward-looking than the Middle East.
This is why it is so exciting to have secured our In-Principle Approval for payments licence in the UAE, and established our first entity in KSA. Market entry in the region will not only empower our 150,000 existing global customer base, but it will also create huge opportunities for local businesses – big and small.”
Jeanette Chan, Chief Legal, Compliance and Risk Officer at Airwallex, added:
“As an infrastructure-first company, we have spent ten years diligently working with regulators and building our infrastructure.
We now have over 60 licences and permits globally, and these new steps in the UAE and Saudi Arabia are an exciting part of our broader strategy to provide our customers with the right technology and opportunities to be ‘default global’ across our entire product suite”
Global Growth Momentum
Airwallex’s expansion into the Middle East follows strong global momentum. The company recently closed a US$300 million Series F funding round, valuing it at US$6.2 billion, and signed a global partnership with Arsenal Football Club, complementing its sponsorship with McLaren Racing.
