Astra Tech Unveils ‘Send Now, Pay Later’ Feature on Botim in UAE

Astra Tech Launches ‘Ship Now, Pay Later’ Service via Botim in UAE

Abu Dhabi-based consumer technology group Astra Tech has launched a new service called ‘Ship Now, Pay Later (SNBL)’ through 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, Astra Tech aims to capture a large share of the UAE’s remittance market by 2023.

The service targets the UAE’s large expatriate workforce, enabling them to send money abroad and then pay in installments. This provides additional flexibility in times of financial stress such as month-ends.

Abdullah Abu Shaikh, founder of Astra Tech and CEO of Botim, noted: “By leveraging advanced credit infrastructure, we provide users with a quick and accessible way to send money. The service gives millions of users the flexibility to manage their financial obligations more effectively, while continuing to support their families abroad.

Bodim’s assistance
The SNPL component of Botim’s financial services, which includes bill payment and foreign transfers, removes the requirement for advance payments.
In the first five months of 2023, UAE banks remitted $6.74 trillion, with countries like India, Egypt and Pakistan among the main beneficiaries. SNPL is expected to facilitate this process for the UAE’s expatriate community.

The launch of SNPL is part of Astra Tech’s broader goal of increasing financial inclusion in the region.Following the company’s acquisition of a financial institution license from Quantix, a financial services provider licensed by the Central Bank of the UAE, it offers loan solutions like SNPL and Buy Now, Pay Later (BNPL). Prior to the official launch, Botim will make pre-registration available to its nine million users, giving early adopters access to the new service with flexible payment terms.