The largest and most popular VoIP solution in MENA – BOTIM is now the first communication platform in the region to enable its users to seamlessly send money worldwide.
FINTECH:
Astra Tech, owner of BOTIM, is the latest organization to incorporate MoneyGram’s leading fintech capabilities into its service offerings.
Dubai, United Arab Emirates – MoneyGram International, Inc. (NASDAQ: MGI), a leading global financial technology company that connects global communities, announced a strategic partnership with Astra Tech (Astra), a technology investment and development group based in the United States. United Arab Emirates (UAE). Astra’s overarching vision to create the world’s first ultra app has seen the company make several strategic acquisitions since its launch in March 2022, the latest of which includes BOTIM, the largest and most popular Voice over Internet Protocol (VOIP) solution in the Middle East and North Africa (MENA). Through an innovative partnership with MoneyGram, Astra will provide over 90 million registered BOTIM users with a simplified experience and the first communication platform in the region with seamless international transactions that take place in seconds, in real time and in 200 countries. and territories around the world.
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“As we increasingly strive to capture growth by opening up our global network to new use cases, we are excited to offer our leading international money transfer capabilities to BOTIM, Astra Tech’s latest and most significant acquisition,” said Alex Holmes, Chairman and CEO of MoneyGram. “As BOTIM becomes the most trusted consumer platform in the MEA region, it will allow us to expand our reach to the millions of consumers who use it, enabling seamless communication and money transfer for businesses, family and friends around the world. This partnership is a prime example of how MoneyGram is strategically and effectively reaching new customers around the world through innovative channels.
Abdallah Abu Sheikh, founder of Astra Tech and CEO of BOTIM, said: “Partnering with MoneyGram will allow us to leverage their unrivaled security and offer world-class financial services to BOTIM users. We’re revolutionizing sending international money transfers by making it as easy as sending a text message and removing the hassle of standing in long queues, filling out tedious forms and carrying extra cash or paying extra fees. This represents our ability to connect people not only socially but also financially, while demonstrating our arrival as the first chat-based communication platform that allows people to send money home with the click of a button.”
With nearly nine million expatriates living in the UAE, this partnership positions MoneyGram to further accelerate its digital growth and drive financial inclusion in a region dominated by outbound international payment transfers. The fast-growing BOTIM app is uniquely positioned to reach up to 1.2 billion users across MENA. in the next few years, given the region’s large expat population and strong demand for free VoIP services.
“MoneyGram has spent more than 80 years building one of the world’s largest P2P payment networks, and today’s announcement highlights the potential for all kinds of organizations to seamlessly join,” said Grant Lines, MoneyGram’s CFO. “I am excited to see this partnership take shape as it strengthens our leadership position in the Middle East and drives positive impact on our business as we continue to identify new opportunities to generate meaningful processing revenues in the coming years.”
The partnership will be live for consumers soon.
