07:58 AM EDT, 06/25/2024 (MT Newswires) -- Nuvei ( NVEI ) , a Canadian fintech company, said Tuesday that it secured an in-principle approval for a Retail Services Category II License from the Central Bank of the UAE.

The company said the license allows it to offer a suite of payments technology to businesses in the UAE, including direct local acquiring, payment aggregation services, and domestic and cross-border fund transfers.

"Expanding our global licenses portfolio has been a key focus in this regard, and we can now offer the full power of our payment platform to support the growth aspirations of businesses operating in the UAE," Nuvei ( NVEI ) CEO Philip Fayer said.