US payments service MoneyGram International has partnered with Astra Tech, a technology-focused investment company backed by Abu Dhabi’s G42, to offer money transfer services on popular Middle East internet calling platform Botim.
Through the partnership, Astra Tech will offer Botim’s 90-plus million users “seamless international transactions” that can take place in real time across 200 countries and territories worldwide, the companies said in a statement on Thursday.
The partnership will become available soon for consumers, they added.
Working with MoneyGram will make international money transfers “as easy as text messaging and remove the hassles of standing in long lines, tedious form-filling and unnecessarily carrying cash or paying additional fees”, Abdallah Abu Sheikh, Astra Tech’s founder and Botim’s chief executive, said.
“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 enables people to send money home with a click of a button,” he said.
Dubai-based Astra Tech acquired Botim earlier this month as it prepares to launch an “ultra app” to serve a wide range of consumer needs, from instant messaging to digital payments. However, the company did not disclose the value of the transaction.
The deal came after Astra Tech started a $500 million funding round led by G42.
The acquisition will give Astra Tech access to Botim’s 90 million registered users — 25 million of them active — after a revamp of the VoIP service.
Botim was introduced in the UAE in 2017 as one of only two licensed VoIP apps, the other one being C'Me.
Currently, the UAE's two telecoms operators, e& by etisalat and du, have Botim, Voico and GoChat Messenger — the last exclusive to e& — listed as options for internet calling plans.
Aside from VoIP calls, Botim also offers phone recharge, bill payment and allows users to order food and groceries using the app.
Remittance flows to low and middle-income countries were set to increase 5 per cent on an annual basis to $626 billion in 2022, despite global macroeconomic headwinds, with India to receive a record $100 billion this year, the World Bank said in December.
People remitting money through Botim can send the funds to the beneficiary’s bank account, mobile wallets or have the cash picked up from any MoneyGram agent location, Mr Abu Sheikh said.
The remitter’s bank account or mobile wallet must also be linked to Botim, he added.
While Botim is free to use for consumers in the UAE, a remittance fee in the range of Dh6 to Dh10 ($1.6 to $2.7) will be charged for each transaction, depending on the corridor or country the money is being sent to, Mr Abu Sheikh said.
“This [partnership] will enable us to extend our reach to the millions of consumers who use MoneyGram, enabling seamless communication and money transfer for businesses, family and friends around the world,” said Alex Holmes, chairman and chief executive of the global money transfer service.
With nearly nine million foreigners living in the UAE, the partnership will help MoneyGram to accelerate its digital growth further and promote financial inclusion in the region, the statement said.
Meanwhile, Botim is positioned to reach up to 1.2 billion users in the Mena region in the next few years, given the region’s sizeable foreign population and strong demand for free VoIP services, it added.
Watch: Best apps for transferring money in the UAE
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
RESULTS
Bantamweight title:
Vinicius de Oliveira (BRA) bt Xavier Alaoui (MAR)
(KO round 2)
Catchweight 68kg:
Sean Soriano (USA) bt Noad Lahat (ISR)
(TKO round 1)
Middleweight:
Denis Tiuliulin (RUS) bt Juscelino Ferreira (BRA)
(TKO round 1)
Lightweight:
Anas Siraj Mounir (MAR) bt Joachim Tollefsen (DEN)
(Unanimous decision)
Catchweight 68kg:
Austin Arnett (USA) bt Daniel Vega (MEX)
(TKO round 3)
Lightweight:
Carrington Banks (USA) bt Marcio Andrade (BRA)
(Unanimous decision)
Catchweight 58kg:
Corinne Laframboise (CAN) bt Malin Hermansson (SWE)
(Submission round 2)
Bantamweight:
Jalal Al Daaja (CAN) bt Juares Dea (CMR)
(Split decision)
Middleweight:
Mohamad Osseili (LEB) bt Ivan Slynko (UKR)
(TKO round 1)
Featherweight:
Tarun Grigoryan (ARM) bt Islam Makhamadjanov (UZB)
(Unanimous decision)
Catchweight 54kg:
Mariagiovanna Vai (ITA) bt Daniella Shutov (ISR)
(Submission round 1)
Middleweight:
Joan Arastey (ESP) bt Omran Chaaban (LEB)
(Unanimous decision)
Welterweight:
Bruno Carvalho (POR) bt Souhil Tahiri (ALG)
(TKO)
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Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
More on animal trafficking
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England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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How Voiss turns words to speech
The device has a screen reader or software that monitors what happens on the screen
The screen reader sends the text to the speech synthesiser
This converts to audio whatever it receives from screen reader, so the person can hear what is happening on the screen
A VOISS computer costs between $200 and $250 depending on memory card capacity that ranges from 32GB to 128GB
The speech synthesisers VOISS develops are free
Subsequent computer versions will include improvements such as wireless keyboards
Arabic voice in affordable talking computer to be added next year to English, Portuguese, and Spanish synthesiser
Partnerships planned during Expo 2020 Dubai to add more languages
At least 2.2 billion people globally have a vision impairment or blindness
More than 90 per cent live in developing countries
The Long-term aim of VOISS to reach the technology to people in poor countries with workshops that teach them to build their own device
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
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Coal Black Mornings
Brett Anderson
Little Brown Book Group
Recent winners
2002 Giselle Khoury (Colombia)
2004 Nathalie Nasralla (France)
2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
2014 Lia Saad (UAE)
2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
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