CAREEM requires no introduction. The locally-developed super app has been a fundamental part of the Mena region for more than ten years, serving millions of people for their transportation, food and grocery delivery, micromobility, and more. With over 12 services in the UAE, Careem is on track to become the region’s ‘Everything App’. Although many customers use Careem for daily transactions, some may not be aware of the comprehensive suite of fintech and payments services available through ‘Careem Pay’.
From bill payments to domestic and international transfers, customers can conveniently manage most of their financial needs directly through Careem Pay. Launched in 2022, Careem Pay's peer-to-peer money transfer service allows customers to send, request, and receive money using a phone number, personal QR code, or personal payment link without needing an IBAN or account number, all under the authorization of the UAE Central Bank. The service has gained popularity, leading Careem to expand the scope to international transfers by partnering with licensed remittance providers like Lulu Exchange.
Through Careem Pay, customers and Captains can make direct transfers to major remittance corridors in the region, including Pakistan, India, and the UK. Expats across the UAE have embraced the service, with one customer sending over Dh334,000 to Pakistan in 2023. The fastest remittance transfer was completed in just 16 seconds, from the UAE to India. With competitive foreign exchange rates that are 50 percent cheaper than banks, customers can transfer up to Dh45,000 in a single transaction and up to Dh135,000 monthly. Careem Pay aims to include other important remittance corridors in the near future.
According to Mohammad El Saadi, Vice-President of Careem Pay, “Careem Pay was built with one goal in mind: to simplify and increase access to financial services for people across the region. We're excited to enable our customers and Captains in the UAE to send money back home within minutes, and to have recently extended the service to the UK. Our remittance service is particularly helpful for anyone who makes consistent transfers to Pakistan, India, and the UK, be it to support families back home, make mortgage payments or contribute to other personal investments.”
In addition to remittance services, Careem customers can utilize the cards saved on the Careem app or the balance in their Careem Pay wallets to manage and settle their bills, including phone, TV, and internet bills from etisalat and du, as well as utility bills and gas bills. The platform has seen over $50 million in bill payments and top-ups, demonstrating its role in users' regular financial activities.
Careem Pay's purpose is to empower people by simplifying their payment experiences, offering a versatile range of financial activities within and beyond the Careem app. Don't miss out—try out Careem Pay today and experience the simplicity yourself!
