ABU DHABI, UAE – PayBy Technology Projects LLC, a subsidiary of Astra Tech and one of the UAE’s leading fintech platforms, has achieved a groundbreaking milestone by securing a gaming-related license from the General Commercial Gaming Regulatory Authority (GCGRA). This marks a pivotal moment in the UAE’s journey to establish a robust and regulated commercial gaming sector.
Under the newly awarded Gaming-Related Vendor License, PayBy becomes the first fintech company in the UAE authorized to provide financial services to GCGRA-licensed commercial gaming operators. The license enables PayBy to offer a suite of innovative solutions, including secure digital wallets, advanced payment systems, and fraud detection technologies. These services are designed to align with the GCGRA’s mission of fostering a safe, regulated, and innovative gaming ecosystem prioritizing player safety.
A New Era of Fintech Integration
PayBy’s inclusion in Astra Tech’s expansive Ultra app ecosystem further strengthens its role in reshaping the financial technology landscape. The Ultra app integrates a broad array of services such as payments, remittances, lending, and now gaming-related solutions, serving over 150 million users globally.
By partnering with industry leaders like MoneyGram and Mastercard, Astra Tech has consistently expanded its impact, delivering seamless, secure, and innovative financial solutions to a global audience.
Driving Financial Innovation in Gaming
“We are proud to be the first fintech to receive this significant license from the GCGRA,” said a spokesperson for PayBy. “This achievement reflects our commitment to leveraging cutting-edge technologies to meet the unique needs of the emerging commercial gaming sector while ensuring the highest standards of safety and compliance.”
About PayBy Technology Projects LLC
Headquartered in the UAE, PayBy is a prominent fintech platform offering a wide array of financial services, including digital wallets, international remittances, and in-store and online payment solutions. Licensed by the UAE Central Bank, PayBy is dedicated to enhancing financial accessibility and security through technological innovation.
About Astra Tech
Astra Tech is a leading consumer technology holding group in the MENA region, revolutionizing everyday services through its flagship Ultra app. Its portfolio includes PayBy, Rizek, Botim, and Quantix, each playing a vital role in advancing financial technology and consumer services. Notably, Quantix was the first fintech in the UAE to secure a Finance Company License from the UAE Central Bank since 2008, while PayBy holds key licenses such as Stored Value Facility (SVF) and Retail Payment Services (RPSCS), reinforcing Astra Tech’s leadership in the fintech sector.
For more information about PayBy, visit www.payby.com.
For insights into the GCGRA and the UAE’s commercial gaming framework, visit www.gcgra.gov.ae.
