Astra Tech, a consumer technology group based in Abu Dhabi, has launched a new service called ‘send now, pay later (SNPL) via its Botim Ultra App.
SNPL is part of Astra Tech’s growing fintech ecosystem, which has seen steady growth in transaction volumes. Following the success of its expanded remittance services in 2023, Astra Tech aims to capture a larger share of the UAE’s remittance market.
The service targets the UAE’s large expatriate workforce, enabling them to send money abroad and pay later in instalments. This provides added flexibility during financially tight periods, such as month-end.
Abdallah Abu Sheikh, founder of Astra Tech and CEO of Botim, noted: “By leveraging advanced credit infrastructure, we’re offering users a faster and more accessible way to send remittances. This service gives millions of users the flexibility to manage their financial obligations more effectively, while continuing to support their families abroad.”
Botim’s services
Botim’s financial services, including international transfers and bill payments, now feature SNPL, which eliminates the need for upfront payments. In the first five months of 2023, UAE banks processed Dh6.74trillion in remittances, with countries like India, Egypt, and Pakistan among the main beneficiaries. SNPL is expected to ease this process for the UAE’s expatriate community.
The introduction of SNPL is part of Astra Tech’s broader goal to increase financial inclusion in the region. This follows the company’s acquisition of a Finance Company License through Quantix, a financial services provider licensed by the Central Bank of the UAE, which offers credit solutions such as SNPL and buy now, pay later (BNPL).
Ahead of the official launch, Botim will open pre-registration for its nine million users, allowing early adopters to access the new service with flexible payment terms.
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