Pyypl
Cards for the smartphone-first unbanked.
- Who holds it
- A licensed payment institution holds your balance in a safeguarding account — FSRA (ADGM) money services license No. 170031; non-bank payment institution; also CBB Bahrain, AFSA Kazakhstan.
- The ledger
- The payment institution’s own ledger.
- If it fails
- Safeguarded funds are returned in administration — ring-fenced, but access can be frozen and slow.
Derived from Pyypl’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · underbanked |
| HQ | Dubai, AE |
| Founded | 2017 |
| Custody | Custodial |
| Regulation type | Payment institution |
| License detail | FSRA (ADGM) money services license No. 170031; non-bank payment institution; also CBB Bahrain, AFSA Kazakhstan |
| Card | MC · Prepaid |
| Stablecoins | No |
| KYC | Yes |
| Active regions | MENA |
| Founders | Antti Arponen |
| Funding | ~$60M raised |
Verified links: official site ↗
Common questions about Pyypl
What is Pyypl?
Pyypl is a fiat neobank built for underbanked, headquartered in Dubai, AE and founded in 2017. Your money is held custodially, so Pyypl or its partner bank holds the balance and you hold a claim on it. It is regulated as a payment institution (FSRA (ADGM) money services license No. 170031; non-bank payment institution; also CBB Bahrain, AFSA Kazakhstan).
Does Pyypl have a card, and where can you use it?
It issues a Mastercard prepaid card. It is available in MENA.
Does Pyypl require KYC?
Yes. Pyypl requires identity verification (KYC) to open an account, as a payment institution.
Peers
Wise · Telda · Wio Bank · Zand · YAP · Liv.
Pyypl appears in
Neobanks authorised as payment institutions (13) · Neobanks available in MENA (85) · Neobanks built for the underbanked (23) · Neobanks that issue a Mastercard (150) · Neobanks in UAE (14)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.