botim money, the financial services arm of the MENA region’s Ultra app botim, has partnered with global money movement network TerraPay to expand its cross-border remittance capabilities.
The collaboration aims to enhance the speed and reliability of international transfers, with a specific focus on key African markets including Uganda, Kenya, Ghana, and Egypt.
Real-time validation for reliability
The partnership integrates TerraPay’s global infrastructure directly into the botim money ecosystem. A core feature of this integration is real-time wallet validation, which verifies recipient details before a transfer is initiated. This capability is designed to significantly improve delivery success rates—a critical factor for the millions of expatriates in the UAE who rely on these services to support families back home.
Users of botim money will now be able to send funds via direct bank transfers and instant mobile wallet payouts, leveraging TerraPay’s network which connects to over 3.7 billion mobile wallets and 7.5 billion bank accounts globally.
Hesham Sherif, head of business, remittance at botim, commented: “For customers, remittances are about reliability. If a transfer fails or is delayed, it has real consequences for families waiting on the other side. That’s why certainty matters as much as speed… Our partnership with TerraPay strengthens our remittance infrastructure across the world, especially in key African corridors through real-time validation and broader payout coverage.”
Focus on African corridors
The strategic focus on Africa comes at a time of significant growth for remittance flows into the continent. In 2024, remittance inflows to Africa reached an estimated $96.4billion, accounting for approximately 5.2 per cent of the region’s GDP.
By prioritising markets where mobile wallets are a dominant financial tool, such as Kenya and Ghana, botim money aims to support financial inclusion in areas with limited access to traditional banking.
Bassem Awada, senior vice president at TerraPay, added: “Remittances are a critical financial lifeline for millions of families across the world, and reliability is non-negotiable. Our partnership with botim money brings together TerraPay’s global payments infrastructure and real-time wallet validation with botim’s strong presence in the UAE, enabling faster, more secure cross-border transfers into the globe.”
Formerly known as PayBy, botim money operates under the ecosystem of Astra Tech and is licensed by the Central Bank of the UAE. It holds both Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses, offering a suite of services including digital wallets, lending, and international transfers to millions of users across the region.