Astra Tech, Tencent Team Up To Link Botim Pay Users To China’s Weixin

Bilateral payment system will become part of a US$200 billion, unsanctionable trade corridor 

The UAE based Astra Tech investment group, one of the largest in the MENA region, and a major player in consumer technology, has announced a partnership with China-based Tencent Financial Technology to launch cross-border remittances from the UAE’s Botim pay users to Weixin pay users in China.

This collaboration eliminates traditional boundaries, enabling PayBy-powered Botim users to make international transfers via its messenger platform directly to over 1 billion Weixin users, offering unprecedented access to one of the world’s most dynamic markets.

Together with the exclusive ShareLink feature on Weixin, users can effortlessly notify recipients with one click after each remittance. Recipients in China can receive funds through Weixin messages, monitor remittance status, and choose to receive funds using Weixin Wallet Balance or bank cards linked to Weixin Pay.

Abdallah Abu Sheikh, Co-founder of Astra Tech and CEO of Botim, said the partnership with Tencent Financial Technology is a testament to the boundless potential of technology and the two companies’ shared vision of empowering users globally. “By bridging continents and enabling seamless financial interactions, we pioneer a new era of cross-platform financial inclusion. This also elevates UAE’s status as a global tech and finance powerhouse, reaffirming our commitment to simplifying our users’ everyday experience,” Abu Sheikh said.

Royal Chen, Vice President of Tencent Financial Technology, said partnering with Botim marks an important milestone in the company’s journey to enhance the global cross-border remittance experience. “By connecting Botim and Weixin users together through remittance and messenger functions, it creates a unique remittance experience across the two platforms,” Chen said.

This collaboration is not only a significant milestone in the digital realm but also closely aligns with UAE’s vision of becoming one of the world’s most sought-after destinations and a global hub for finance and business. It also eliminates the need to send financial transfers via SWIFT – an issue that will gain increasing traction as emerging market, yet powerful economies such as MENA, India and China begin to look at ways to circumnavigate US control over global finances. That was originally triggered by the United States banning Iran, and then Russia from the network. Alternatives such as this UAE-China collaboration will become more frequent in processing global transactions.

It also showcases two of the world’s most comprehensive digital platforms on a global scale, setting a benchmark for cross-border digital integration and transforming the landscape of digital communication.

UAE-China bilateral trade is expected to reach US$200 billion by 2030.

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