Latest news with #AstraTech
Trade Arabia
17-05-2025
- Business
- Trade Arabia
Astra Tech, 7X in deal to advance digital financial services
Astra Tech, the leading consumer technology holding group behind Botim, has announced a strategic partnership with 7X, the investment holding group in trade, transport, and logistics. The agreement, formalized during the Dubai FinTech Summit (DFS), sets the stage for an integrated digital ecosystem that combines financial services, logistics, and last-mile delivery, advancing the UAE's vision for a connected, inclusive, and innovation-driven economy. The collaboration will enhance access to secure, compliant, and customer-centric services by embedding remittance capabilities, salary processing via both Wages Protection System (WPS) solutions through the innovative Botim Salary Card, and digital payment tools into everyday platforms, said the statement from Astra Tech. It also catalyzes future enhancements, including AI-powered address verification, last-mile delivery integration, and expanded payment acceptance points. Astra Tech's WPS solution, the Botim Salary Card, will be rolled out to FINTX's (the fintech arm of 7X) extensive customer base, marking a significant expansion in salary disbursement capabilities across businesses' clientele through a trusted and compliant delivery network. FINTX plays a central role in this collaboration, reinforcing its mandate as a trusted financial enabler and expanding the reach of UAE-born fintech capabilities across all user segments and geographies. In addition, the agreement also explores new avenues to expand Botim's international remittance services through FINTX's global financial network, connecting users to agent locations worldwide. By embedding this infrastructure into the Botim app, users will be able to send and receive cross-border remittances quickly and securely from within the platform they already use every day. This expansion positions Botim as a comprehensive financial services platform meeting the everyday needs of both domestic and international users. The collaboration also lays the groundwork for a broader range of fintech and logistics innovations. These include wallet top-ups and eKYC services at FINTX's Wall Street Exchange branches, enabling Botim Wallet payments at 7X retail locations, deploying point-of-sale systems to support SME digitization, and improving last-mile delivery logistics. Other areas under exploration include address verification powered by the WAYN platform, UAE's Digital P.O. Box, to support verified deliveries and secure digital identities. WAYN's integration will enable more secure, reliable communication and transactions across Botim's user base, contributing to the national digital infrastructure. It will also explore corporate payment integrations via WASLAH, the comprehensive logistics platform by 7X. On the deal, COO Ahmed Mourad said the partnership with 7X represents a major leap forward in Astra Tech's mission to redefine access to digital finance across the region. He noted that embedding financial tools into everyday digital experiences is not only about convenience but about building a sustainable infrastructure for long-term financial empowerment. Tariq Al Wahedi, Acting Group CEO of 7X, said: "This partnership reflects our unwavering commitment to shaping a future where finance, logistics, and technology converge to serve people better. By joining forces with Astra Tech, we are advancing our shared commitment to supporting national priorities in digital transformation and empowering communities through accessible, integrated, and secure financial and last-mile services." "This collaboration is a pivotal milestone in our roadmap to position 7X as a regional force in digital finance and smart trade infrastructure. We will be unlocking new opportunities to simplify how people move money, goods, and services, laying the foundation for a seamless, customer-centric ecosystem that is built for scale, inclusion, and innovation," he added.- TradeArabia News Service
Zawya
14-05-2025
- Business
- Zawya
Botim officially launches 'Send Now, Pay Later' feature to enhance financial flexibility for UAE expats
Dubai, United Arab Emirates – Astra Tech, the UAE-based consumer technology holding group, has announced the launch of the 'Send Now, Pay Later' (SNPL) feature within its Botim Ultra App. This feature enables users to instantly remit up to AED 5,000 to over 200 countries, offering them the flexibility to repay over a period of six months. SNPL is designed to address urgent financial needs and enhance remittance accessibility, particularly for expatriates in the UAE who may face challenges accessing formal credit systems. The feature provides users with a secure, deferred payment mechanism for international transfers, directly embedded within the Botim experience. The SNPL feature comes at a time of significant growth in the digital remittance sector. With the UAE's digital remittance market projected to reach $1.5 billion by 2030, Botim's SNPL feature is well-positioned to play an integral role in shaping this evolution. It reinforces Botim's position as a key enabler of accessible, tech-driven financial solutions, aligning with the UAE's broader digital economy ambitions. 'The introduction of the 'Send Now, Pay Later' feature on Botim marks a significant step in our mission to enhance financial inclusion in the UAE,' said H.E. Dr Tariq bin Hendi, CEO and Board Member of Astra Tech and Botim. 'By offering a secure, flexible remittance solution, we are meeting the real financial needs of the expatriate community, empowering them to support their families. This innovation aligns with the UAE's broader commitment to foster financial inclusion and literacy, positioning the nation as a global leader in inclusive growth and sustainable development.' While the concept was initially announced in 2024, the official launch is backed by a Finance Company License granted to Astra Tech's Quantix subsidiary by the Central Bank of the UAE (CBUAE). The rollout reflects strong user interest and Astra Tech's continued focus on delivering embedded financial services that respond to evolving consumer needs. The feature was unveiled at the Dubai Fintech Summit 2025, further reinforcing Astra Tech's role in shaping the future of integrated fintech offerings in the region. This latest feature is a key step in Botim's mission to transform into an ultra-app delivering more than just messaging services. With features like SNPL, Botim is advancing financial empowerment by expanding access to flexible and embedded remittance options for underserved users. About Astra Tech: Astra Tech is the leading consumer technology holding group in the MENA region, focused on transforming everyday services through its Ultra app. The group's portfolio includes PayBy, Botim, and Quantix. PayBy holds Stored Value Facility (SVF) and Retail Payment Services (RPSCS) licenses, further solidifying Astra Tech's position in the financial technology sector. Quantix is the first fintech in the UAE to receive a Finance Company License from the Central Bank of the UAE (CBUAE) since 2008. The Ultra app, developed under Botim, operates in 155 countries, serves over 150 million users, providing more than just free VoIP calling and has also integrated services such as international money transfers, bill payments, and UAE visa services. Astra Tech is committed to advancing technology and enhancing user experience across the region. Additional information may be found at | LinkedIn: or
Mid East Info
14-05-2025
- Business
- Mid East Info
Botim Officially Launches ‘Send Now, Pay Later' Feature to Enhance Financial Flexibility for UAE Expats - Middle East Business News and Information
Dubai, United Arab Emirates: Astra Tech, the UAE-based consumer technology holding group, has announced the launch of the 'Send Now, Pay Later' (SNPL) feature within its Botim Ultra App. This feature enables users to instantly remit up to AED 5,000 to over 200 countries, offering them the flexibility to repay over a period of six months. SNPL is designed to address urgent financial needs and enhance remittance accessibility, particularly for expatriates in the UAE who may face challenges accessing formal credit systems. The feature provides users with a secure, deferred payment mechanism for international transfers, directly embedded within the Botim experience. The SNPL feature comes at a time of significant growth in the digital remittance sector. With the UAE's digital remittance market projected to reach $1.5 billion by 2030, Botim's SNPL feature is well-positioned to play an integral role in shaping this evolution. It reinforces Botim's position as a key enabler of accessible, tech-driven financial solutions, aligning with the UAE's broader digital economy ambitions. 'The introduction of the 'Send Now, Pay Later' feature on Botim marks a significant step in our mission to enhance financial inclusion in the UAE,' said H.E. Dr Tariq bin Hendi, CEO and Board Member of Astra Tech and Botim. 'By offering a secure, flexible remittance solution, we are meeting the real financial needs of the expatriate community, empowering them to support their families. This innovation aligns with the UAE's broader commitment to foster financial inclusion and literacy, positioning the nation as a global leader in inclusive growth and sustainable development.' While the concept was initially announced in 2024, the official launch is backed by a Finance Company License granted to Astra Tech's Quantix subsidiary by the Central Bank of the UAE (CBUAE). The rollout reflects strong user interest and Astra Tech's continued focus on delivering embedded financial services that respond to evolving consumer needs. The feature was unveiled at the Dubai Fintech Summit 2025, further reinforcing Astra Tech's role in shaping the future of integrated fintech offerings in the region. This latest feature is a key step in Botim's mission to transform into an ultra-app delivering more than just messaging services. With features like SNPL, Botim is advancing financial empowerment by expanding access to flexible and embedded remittance options for underserved users. About Astra Tech: Astra Tech is the leading consumer technology holding group in the MENA region, focused on transforming everyday services through its Ultra app. The group's portfolio includes PayBy, Botim, and Quantix. PayBy holds Stored Value Facility (SVF) and Retail Payment Services (RPSCS) licenses, further solidifying Astra Tech's position in the financial technology sector. Quantix is the first fintech in the UAE to receive a Finance Company License from the Central Bank of the UAE (CBUAE) since 2008. The Ultra app, developed under Botim, operates in 155 countries, serves over 150 million users, providing more than just free VoIP calling and has also integrated services such as international money transfers, bill payments, and UAE visa services. Astra Tech is committed to advancing technology and enhancing user experience across the region.
Fintech News ME
14-05-2025
- Business
- Fintech News ME
Botim and Mbank Launch UAE's First Fintech-Integrated Jaywan Card
Astra Tech 's flagship platform Botim has partnered with Mbank, a digital bank in the UAE, to introduce the country's first fintech integrated Jaywan card scheme. The agreement was announced during a signing ceremony at the Dubai Fintech Summit. Through this partnership, Botim, powered by PayBy, becomes the first fintech platform in the UAE to issue Jaywan cards. The initiative supports the Central Bank of the UAE's efforts to establish a national payment system and aligns with the country's aim to reduce reliance on cash transactions. The new prepaid card service will allow Botim users to make digital payments across the Emirates without requiring a traditional bank account. Users will be able to apply for and activate their Jaywan card directly within the Botim app. Dr Tariq Bin Hendi, CEO and Board Member of Astra Tech and Botim said, 'The launch of the Jaywan scheme via Botim represents a strategic commitment to enhancing the accessibility and infrastructure of financial services in the UAE. By integrating this national payment solution into our platform, we are empowering users with greater financial autonomy and contributing to the UAE's digital transformation goals.' Mohammed Wassim Khayata, CEO of Mbank added, 'Our partnership with Botim to introduce the Jaywan card scheme is a testament to our shared vision of driving financial innovation and inclusion in the UAE. This initiative underscores our commitment to providing cutting edge digital banking solutions that meet the evolving needs of our customers.' The Jaywan card scheme, developed under the supervision of the Central Bank of the UAE and powered by Network International, is the country's first domestic card system. It is intended to strengthen financial sovereignty and provide interoperable local payment solutions. This addition builds on Botim's existing financial services, which include multi currency prepaid cards, global remittance capabilities, micro lending, and in app financial tools.
Zawya
13-05-2025
- Business
- Zawya
Botim becomes UAE's first fintech to roll out Jaywan Cards in strategic partnership with Mbank
Dubai, UAE: In a significant advancement for the UAE's digital economy, Astra Tech's flagship platform, Botim, has partnered with Mbank, a leading digital bank in the United Arab Emirates, to introduce the nation's first fintech-integrated Jaywan card scheme. The announcement was made during a signing ceremony at the Dubai Fintech Summit, with the presence of H.E. Dr. Tariq Bin Hendi, CEO and Board Member of Astra Tech & Botim, and Mohammed Wassim Khayata, CEO of Mbank. This collaboration positions Botim, powered by PayBy, as the first fintech platform in the UAE to enable Jaywan card issuance, aligning with the Central Bank's national payment objectives and the country's broader ambition to foster a cashless society. The new prepaid card service will provide Botim users with a secure, convenient, and fully digital payment solution, enabling seamless cashless transactions across the Emirates. H.E. Dr. Tariq Bin Hendi stated, 'The launch of the Jaywan scheme via Botim represents a strategic commitment to enhancing the accessibility and infrastructure of financial services in the UAE. By integrating this national payment solution into our platform, we are empowering users with greater financial autonomy and contributing to the UAE's digital transformation goals.' Mohammed Wassim Khayata, CEO of Mbank, added, 'Our partnership with Botim to introduce the Jaywan card scheme is a testament to our shared vision of driving financial innovation and inclusion in the UAE. This initiative underscores our commitment to providing cutting-edge digital banking solutions that meet the evolving needs of our customers.' Developed under the supervision of the Central Bank of the UAE and powered by Network International, the Jaywan scheme serves as the nation's first domestic payment card system. It is designed to enhance financial sovereignty, reduce dependence on international schemes, and support the growing demand for localized, interoperable payment solutions. With this partnership, verified users will be able to apply for and activate their Jaywan prepaid card directly within the Botim app, eliminating the need for traditional bank accounts and bringing secure digital payments to a broader audience. This initiative builds upon Botim's evolving fintech ecosystem, which includes multi-currency prepaid cards, real-time global remittances, micro-lending, and in-chat financial services. The integration of the Jaywan scheme further solidifies Botim's position as a comprehensive digital lifestyle platform, redefining the landscape of fintech services in the MENA region. About Astra Tech Astra Tech is a UAE-based consumer technology investment and development group operating across the MENA region. Established in 2022, the company owns and operates a portfolio of leading digital platforms including Botim, PayBy, and Quantix. With a mission to redefine consumer technology through AI and innovation, Astra Tech developed the Botim Ultra app, the region's first platform to integrate communication, fintech, and services under one roof. PayBy, Astra Tech's fintech subsidiary, is licensed by the Central Bank of the UAE as a Stored Value Facility (SVF) and Retail Payment Services (RPS) provider. Serving over 150 million users in 155 countries, Astra Tech is setting new benchmarks for financial accessibility and consumer empowerment. In 2024, its fintech arm Quantix received the Finance Company License from the UAE Central Bank and secured a $500 million investment from Citi, the largest funding deal for a fintech in UAE history About Al Maryah Community Bank (Mbank) Al Maryah Community Bank is the first fully integrated digital bank in the UAE, providing an omnichannel experience for both individual consumers and small businesses. The bank is highly specialized, focusing on growth and serving the UAE community, which includes UAE Nationals, residents, and businesses (both SMEs and corporates). The bank's vision aligns with that of the UAE's leaders, who are committed to supporting individuals and small businesses within the UAE economy and fostering a forward-thinking culture that emphasizes innovation and technology.
