e& money, the fintech arm of e&, has announced the approval of a Finance Company license from the Central Bank of the UAE. This milestone represents more than a simple expansion of services; it signals a strategic pivot in ambition from merely enabling transactions to actively unlocking financial opportunities, according to a statement.
Building on a strong user base
Over the past several years, e& money has transformed the ways in which people pay, send, and spend money. Currently, more than 2 million customers utilize the app for international remittances, card spending, and everyday payments. This has established the platform as one of the most inclusive digital payment ecosystems in the UAE, boasting the highest number of active users in the country. These foundations have provided the scale, trust, and data intelligence necessary for e& money to take its next decisive step.
Expansion into integrated lending
With the acquisition of the Finance Company license, e& money is moving beyond payments and into the lending space. Rather than offering lending as a standalone product, it will be an integrated component of a connected financial experience. This move is designed to open new possibilities for individuals who have traditionally been underserved by conventional financial models, bringing credit into the same simple, digital-first environment that customers already trust.
This evolution supports the long-term vision of e& money to promote financial inclusion and its ambition to become a true financial superapp. The goal is to support customers throughout their entire financial journey, ranging from daily transactions to significant moments that foster growth, stability, and progress.
AI-driven credit assessment
At the core of this new chapter is a credit strategy driven by data and Artificial Intelligence. By utilizing real transaction behavior, alternative data, and advanced analytics, e& money has created an enhanced credit scoring model. This system is designed to responsibly extend credit access to new segments of society, including individuals who may not have been eligible for loans under previous models.
Khalifa Al Shamsi, CEO of e& life and e& international, said: ““In a digitally advanced economy like the UAE, access to credit is still not a given. While the UAE has achieved near universal financial inclusion, gaps remain when it comes to conventional lending. With this next chapter, we are rethinking how credit is assessed and delivered, using data and technology to open doors for people who have long been overlooked.”
Catalyzing digital transformation
Moreover, in this new phase, e& money intends to progressively introduce a variety of fit-for-purpose lending solutions in stages. These upcoming offerings will include buy-now-pay-later (BNPL) services, early wage access, credit cards, and other financial solutions. Each product is being designed with an emphasis on transparency, affordability, and robust customer protection.
This expansion reinforces the role of e& money within the broader digital ecosystem of e& and strengthens its position as a driver of inclusive growth and digital transformation in the UAE. Furthermore, as the company enters this era, its focus remains on making financial services simpler, fairer, and more accessible, aiming to turn everyday financial activities into real opportunities for all users.
