UAE’s Astra, MoneyGram sign deal for money transfers on Botim

UAE’s Astra, MoneyGram sign deal for money transfers on Botim

UAE’s technology investment firm Astra Tech has entered a deal with MoneyGram International, one of the world’s largest money transfer operators, to offer remittance services on the region’s most popular voice-calling app Botim.

Backed by Abu Dhabi’s G42, in which sovereign wealth fund Mubadala has a significant minority stake, Astra Tech has recently acquired Botim and has plans to create a “world’s first ultra app” that will offer users everything from e-payments to instant messaging.

The only government-approved platform to offer voice-over-internet-protocol (VoIP) services in the UAE, Botim has more than 90 million registered users.

Through the “strategic partnership” with MoneyGram, Botim users will be able to make real-time money transfers across 200 countries and territories worldwide, Astra said on Thursday.

“Partnering with MoneyGram will allow us to leverage their unparalleled security and offer Botim users world-class financial services,” said Abdallah Abu Sheikh, Astra Tech Founder and Botim CEO.

Sheikh said they are “revolutionizing” remittance services by enabling users to send money as easily as sending a text message, thereby eliminating the hassles of standing in long queues and filling in forms at an exchange house or bank.

“With Botim becoming the [Middle East and Africa] region’s most trusted consumer platform, this will enable us to