Botim Officially Launches Send Now, Pay Later Feature in UAE
Botim, the popular UAE-based super app by Anyware, has officially launched its innovative "Send Now, Pay Later" (SNPL) feature, offering enhanced financial flexibility to expatriates for sending money home. This new service allows users to complete instant international money transfers and settle the transaction cost in instalments at a later date.
Key Details
The newly introduced Send Now, Pay Later (SNPL) feature on the Botim app is designed specifically to address the financial needs of the large expatriate population in the UAE. It enables users to initiate and complete international money transfers instantly, providing immediate funds to recipients, while deferring the payment for the transfer itself over a structured instalment plan.
A key component of this service is the integration with the Al Etihad Credit Bureau (AECB). Botim utilizes AECB's real-time credit scoring system to assess user eligibility for the SNPL option, ensuring responsible lending practices.
The feature is powered by Anyware's advanced AI technology, facilitating swift processing and a seamless user experience within the Botim application. This service aims to alleviate the burden of upfront payment for remittances, especially during unexpected financial needs or emergencies.
Implications
The launch of SNPL on a widely used platform like Botim marks a significant development in the UAE's digital finance and remittance landscape. It provides a practical financial tool for millions of expats who regularly send money to their home countries, offering flexibility that traditional remittance methods often lack.
By leveraging AECB's credit data, Botim is integrating established financial infrastructure with innovative fintech solutions, potentially setting a new standard for responsible credit-based services within a super app environment in the MENA region. This move could encourage other platforms to explore similar credit-enabling features, further digitizing and enhancing financial services access.
About Botim
Botim is a leading communications and digital services platform in the UAE and part of the Anyware ecosystem. Initially known for its encrypted voice and video calling features, Botim has evolved into a comprehensive super app offering a wide range of services, including international remittances, bill payments, and more, connecting users with essential services through a single interface.
Looking Ahead
The introduction of SNPL positions Botim at the forefront of financial innovation within the super app space in the UAE. The success of this feature could pave the way for further integration of credit and payment solutions within the app, expanding its utility beyond communication and basic transactions. As digital adoption continues to grow across the MENA region, such features highlight the potential for tech platforms to play a crucial role in enhancing financial inclusion and convenience for diverse user bases.
Source: Zawya