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Botim Launches MENA’s First-Ever “Send Now, Pay Later” Service
The new feature offered via the Botim Ultra App allows users to make instant transfers internationally while deferring payments.
Abu Dhabi-based tech group Astra Tech has launched a first-of-its-kind “Send Now, Pay Later” (SNPL) service in the UAE via its Botim Ultra App. The new feature lets users instantly send funds internationally while deferring payments, making Botim the first fintech provider in the MENA region to offer this kind of solution.
Astra Tech’s fintech ecosystem has seen a huge increase in transaction volumes quarter-on-quarter, and the new SNPL feature follows the success of the company’s expanded remittance services in 2023.
Expatriates form a significant portion of the UAE’s workforce. SNPL offers these residents, in particular, enhanced financial flexibility to send money overseas and pay later in manageable installments. In the first five months of 2023 alone, Dh6.74 trillion was processed by Botim in remittances from the UAE, highlighting the importance of the service.
Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim, commented: “The launch of ‘Send Now, Pay Later’ marks a pivotal moment for Botim and Astra Tech. By leveraging advanced credit infrastructure, we’re offering users a faster, 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.”
Also Read: A Guide To Digital Payment Methods In The Middle East
The launch of Botim Ultra’s SNPL service aligns with Astra Tech’s mission to expand financial inclusion across the MENA region. The fintech startup has already acquired a Finance Company License through Quantix, a financial service provider licensed by the Central Bank of the UAE. Quantix provides various credit solutions, including SNPL and Buy Now, Pay Later (BNPL).
Ahead of the official rollout of SNPL services, Botim will open pre-registration to its more than 9 million users, allowing early adopters to benefit from instant remittance transfers with flexible payment terms.
News
LUVED Is A New Curated Preloved Marketplace For The UAE
Sellers keep 100 percent of every sale and AI can build a listing in five seconds — though the app’s smartest tools are still coming.
Secondhand shopping has become mainstream in the UAE, but the experience is still scattered across resale sites, social media and informal group chats. LUVED, a mobile-first marketplace that launched in Dubai this month, is betting it can pull that activity into one place — and that the thing buyers and sellers actually want is not more inventory, but trust.
The app trades in what it calls circular luxury: preloved fashion and lifestyle pieces across men’s, women’s and children’s categories, bought, sold or given away peer to peer. Its main pitch is economics, with sellers keeping 100 percent of every sale under a zero-commission, fast payout model, while buyers are promised vetted pieces at lower prices.
Where LUVED is staking its reputation is verification. Sellers pass a KYC check, and items run through a two-layer authentication system powered by Entrupy that pairs instant AI screening with human expert review for high-value pieces. Authenticity certificates travel with each item, payments sit in escrow, and a buyer-protection package the company calls The Safety Net adds a 48-hour return window and dispute resolution. Door-to-door logistics removes the in-person meetups that make most resale deals awkward.
An in-app assistant called Luvbot — offering selling insights and demand-based recommendations — is soon to be introduced to the platform. Other features include autofill and dynamic pricing that lets users build a listing in as little as five seconds from three photos, plus a swipe-based feed, story-style drops and in-app chat in English and Arabic. Finally, a gifting layer, Luved & Gifted, lets users pass items to others inside the app rather than sell them.
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“After moving to Dubai, I saw how difficult it was to sell or even give things away,” says founder and CEO Shaima Sibtain. The friction is real, and so is the competition. In resale, trust is won transaction by transaction — and that is the test LUVED has set itself.
The app is live on the App Store now, with Google Play to follow. The company also plans to expand across the region, which will be the real test for a marketplace staking everything on trust.
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