XTransfer Wins In-Principle Approval For UAE Retail Payment Services Licence

B2B cross-border trade payment platform XTransfer said it has received in-principle approval from the Central Bank of the United Arab Emirates for a UAE retail payment services licence, according to ETNet. The company said the approval will allow it to serve local customers in the UAE and further expand its regulated B2B payment business there. XTransfer added that it will continue to focus on providing compliant, secure and efficient payment solutions for companies engaged in international trade, and said its UAE presence will strengthen its ability to support China-Middle East-Africa trade flows.