botim money has joined Mastercard in a strategic partnership aimed at scaling its global remittance capabilities, supported by Mastercard Move.
Through this integration, botim money users are set to be able to send money from the UAE to over 150 countries, with payouts provided to a bank account, mobile wallet, or cash pickup, depending on the region, directly from the botim app.
Additionally, with Mastercard Move’s money movement capabilities, botim money plans to allow users to conduct efficient, secure international money transfers. Entering this strategic collaboration will further solidify botim’s position as a fintech-first and AI-native platform in the UAE, offering near real-time international money transfers within a platform used by a large customer base.
Optimising fund transfers for UAE users
By merging Mastercard’s global infrastructure with botim’s financial ecosystems, the two companies intend to enable users across the region to transfer funds internationally more efficiently. Also, maintaining cross-border payments within the botim experience will enable users to transfer funds without having to leave the app or go between service providers. This minimises time and transaction difficulties, therefore simplifying the money transferring experience.
When it comes to Mastercard, teaming up with botim money furthers its commitment to advancing fintech ecosystems and facilitating cross-border payment optimisation. At the same time, the move allows the company to support botim in connecting communication and finance in a regulated, consumer-focused platform.
Talking about the collaboration, Dr. Tariq Bin Hendi, Board Member of Astra Tech and CEO of botim, mentioned that embedding global remittances into botim will allow the company to make the money transfer process more efficient, safer, and more inclusive, particularly for those who have limited financial access. Adding to this, Gina Petersen-Skyrme, Country Manager, UAE & Oman at Mastercard, stated that, as cross-border payments act as a bridge between expats in markets like the UAE and their families back home, the company focuses on offering communities secure and cost-effective ways to transfer money internationally. Mastercard partners with fintech companies, such as botim, to further promote financial inclusion by providing this financial service to individuals.
