Astra Tech, a prominent consumer technology holding group in the MENA region, introduced a payment system called Palm Pay during the Dubai Fintech Summit.

This contactless palm recognition service, offered through their CBUAE-licensed fintech subsidiary PayBy, represents a major advancement in secure and convenient transactions.

Palm Pay introduces innovative technology to the UAE and the wider region, allowing customers to make payments by hovering their palm over a device at participating merchants. This eliminates the need for physical cards or cash. Already, over 50,000 merchants across the UAE have adopted this system.

Palm Pay leverages advanced biometric authentication, with palm recognition being 1300 times more secure than facial recognition, significantly reducing the risk of fraud. The system offers a more secure alternative to traditional payment methods, addressing concerns about slow transaction speeds, high costs, and potential security breaches.

The launch aligns with the UAE’s strategic vision to become a global hub for technological advancements, particularly within the financial sector. 

The launch during the Dubai Fintech Summit highlights Astra Tech’s commitment to spearheading innovative solutions that promote financial inclusion and digital transformation. “The UAE is now home to a first-of-its-kind technology that simplifies and secures how our customers interact with the world around them,” said Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim. “Palm Pay exemplifies our drive to bring revolutionary technologies to the region, and as the sole provider of this technology, we are proud to set new standards in the fintech sector and contribute to the UAE’s reputation as a global technology hub.”