Astra Tech’s PayBy disrupts fintech solutions

Astra Tech’s PayBy disrupts fintech solutions

- Highly sought-after Stored Value and Retail Payment Services approvals granted by the UAE Central Bank will allow PayBy to power innovative and seamless fintech solutions for Astra Tech’s upcoming app.

- Based in the UAE, Astra Tech acquired PayBy in August 2022, the homegrown fintech behemoth, to power its revolutionary Ultra-Platform’s fintech capabilities.

- Customers will be able to send, request or receive money, transfer internationally and top up their wallets on the upcoming app.

Dubai, United Arab Emirates: PayBy, a leading fintech innovator recently acquired by Astra Tech in August 2022, has been licensed by the Central Bank of the UAE to conduct Stored Value Facility (SVF) and Retail Payment Services (RPS) operations. The license represents one of the country's highest levels of financial services approvals, enabling Astra Tech’s PayBy to continue altering the fintech landscape with its payment solutions. Customers and merchants will experience ultra-fast and secure services, such as international money transfers, seamless payment solutions, wallet top-ups, and more on Astra Tech’s upcoming app to be launched in the coming months.

Founder and CEO of Astra Tech, Abdallah Abu Sheikh, commented: “We are honored to have secured the license from UAE’s Central Bank which marks a huge milestone achievement for