UAE-based Payby merchant network has reached a deal allowing them to accept six partner e-wallets from Alipay+, targeting tourists from China, the Philippines, South Korea, Thailand, Malaysia, and Italy. This partnership is made possible through a collaboration with Dubai-based Astra Tech, who will become one of the first companies in the region to launch Alipay solutions. Astra Tech already operates the Payby and Botim platforms.
Abdallah Abu Sheikh, co-founder of Astra Tech and CEO of Botim, expressed his excitement about the collaboration, stating that it aligns perfectly with the UAE’s commitment to enhancing the payment ecosystem and fostering a commerce-friendly environment. He also mentioned that expanding their fintech services internationally is a testament to their dedication to making payment solutions accessible on a global scale.
The settlement processes and mobile-based transactions through Alipay+ can be conducted in physical stores or online platforms. In-store payments are made easier through add-on options, where customers can scan the QR code at the cashier, enter the payment amount, and confirm the transaction. Alternatively, merchants can scan the payment QR codes presented by customers on their mobile phones, addressing challenges such as currency exchange, cash withdrawal, and language barriers.
Guoming Cheng, the General Manager of Ant Group in Europe and the Middle East, highlighted the benefits of this partnership, stating that it leverages the global outreach of Alipay+ and PayBy-powered versatile solutions for the region.
The UAE aims to increase tourist intake from China and Southeast Asia, and this partnership is expected to contribute to that goal. Dubai Tourism recorded 8.55 million visitors to the emirate from all source points between January and June, and third-party estimates suggest that overall tourist arrivals in the UAE could see an annual increase of 4.4 million.
This collaboration between Payby, Astra Tech, and Alipay+ demonstrates the UAE’s commitment to enhancing its payment ecosystem to accommodate a growing number of international tourists and foster a more commerce-friendly environment. This move positions the UAE as a leading player in the fintech industry and sets the stage for significant growth in the years to come.
I have over 10 years of experience in the field of cryptocurrency and blockchain technology. I have attended numerous conferences and events around the world, and my work has been featured in major publications such as CoinDesk, Bitcoin Magazine, and Yahoo Finance.