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Edenred UAE has obtained in-principle approval from the Central Bank of the UAE for its stored value facility licence application, the company said in a statement released on Wednesday. The payroll solutions provider, which has formed part of the UAE’s salary disbursement infrastructure for more than 18 years, processes payments for over 20,000 businesses and 2.5 million employees each month across sectors including construction, retail, hospitality and logistics. In-principle approval forms an intermediate stage in the regulator’s process that reviews governance structures, compliance frameworks, cybersecurity measures and operational controls before any full licence is issued. The company will now address the remaining requirements set by the Central Bank of the UAE.
According to the statement, the development signals continuity for clients and employees who rely on Edenred’s salary cards as a primary means of receiving and accessing wages, particularly among underbanked segments of the workforce. The announcement aligns with the Central Bank of the UAE’s Stored Value Facilities Regulation introduced in 2020, which according to the regulator’s rulebook aims to promote digital payment innovation while ensuring customer funds are safeguarded through strict licensing and supervisory standards. Central Bank of the UAE licensing records list multiple SVF providers including Noon Digital Pay, Botim Money Technology and Whizpay Technology that have secured approvals under the framework in recent years.
Claudio Di Zanni, managing director of Edenred Middle East, said in the announcement, “Our clients trust us with something deeply personal: making sure their people get paid, safely and on time. Receiving in-principle approval from the Central Bank of the UAE is an important step in earning that trust at the highest regulatory level, and we’re honored to have it. We remain committed to finishing the work ahead to reach full licensing, and to pioneering payroll services that drive economic growth and financial inclusion across the region.” Edenred UAE was the first wage protection system agent authorised by the Central Bank of the UAE and the Ministry of Labour, the statement added. The firm operates from Dubai since 2008 and focuses on simplifying payroll for companies, banks and financial institutions.
Industry assessments place the UAE cards and payments market at 119.8 billion dollars in 2022 with a compound annual growth rate exceeding 8 percent in the years that followed, figures that reflect rising demand for regulated digital solutions. The Central Bank of the UAE has expanded its fintech oversight in line with broader national strategies to enhance financial inclusion for the expatriate workforce that constitutes the majority of residents. Edenred’s platform supports salary cards that function as primary financial accounts for many users in sectors where traditional banking penetration remains limited.
The parent Edenred Group, according to its own figures included in the release, maintains more than one million client companies across 44 countries and provides access to services for over 60 million users through two million partner merchants. The group generated a business volume of 49 billion euros in 2025 primarily via mobile applications, online platforms and cards. Edenred offers solutions in employee benefits, fleet management and corporate payments while pursuing its stated purpose of enriching connections for positive outcomes.
Edenred UAE described itself in the statement as the country’s largest salary processing provider that improves financial management for both employers and workers. The in-principle approval arrives as the Central Bank of the UAE continues to update its licensing directory and supervisory expectations for stored value activities. Completion of the full licensing process will depend on the company’s ability to meet all outstanding criteria established by the authority.
