Careem Pay Launches Digital Wallet And Peer-To-Peer Transfer In The UAE

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Careem Pay Launches Digital Wallet And Peer-To-Peer Transfer In The UAE
Careem Pay Launches Digital Wallet And Peer-To-Peer Transfer In The UAE admin April 21, 2022

Careem Pay introduces a digital wallet that stores real money for Customers in the UAE. Careem Pay is also launching the UAE’s easiest way to transfer money. This new peer-to-peer (P2P) transfer product enables Customers to send, request and receive money using just a phone number, personal QR code, or personal payment link. Money from the Careem Pay digital wallet can be withdrawn to any UAE bank account.

The Careem Pay digital wallet and P2P transfer product are being launched in partnership with First Abu Dhabi Bank and its payments solution partner Magnati, and are authorised by the UAE Central Bank. Careem integrated a digital process of verifying Customer identities so that Customers can open their digital wallets from the comfort of their homes with just a few clicks.

The digital wallet can also be used to pay for goods and services on the Careem app and will soon be usable for goods and services beyond the Careem app. It adds to the other products available through Careem Pay, which include paying bills, splitting bills, and making card payments both on and beyond the app – including at third-party online merchants. Careem Pay recently launched a new checkout product that simplifies payments made at online merchants outside of the Super App. Careem Pay will soon issue physical and virtual Careem cards that can be used at ATMs and at merchants, and introduce international remittance solutions for both Customers and Captains.

Mudassir Sheikha, CEO and Co-founder of Careem, commented: “We’re really excited to launch our digital wallet and P2P payment product to Customers in the UAE to make it easier than ever to transfer money and pay for everyday things. Careem Pay’s purpose is to empower people by simplifying their payment experiences and access to financial services. We have been delivering secure payments for Customers, Captains, and merchants for years, but there is still a huge opportunity to improve the experience that people face when using financial services online.”

Madiha Sattar, VP, Careem Pay, added, “Through our new digital wallet and P2P transfer product, we are helping people overcome many of the hassles they face with everyday payments. Our Customers in the UAE can also use our super-simple bill payments service and pay with Careem Pay at selected online merchants. These products are the first step towards realising our vision of simplifying financial services across the region as we expand Careem Pay into more markets.”

To send money with Careem Pay, Customers can select a recipient from their contact list or use the recipient’s phone number — there is no need to add the recipient’s IBAN or add them as a beneficiary. Customers can also request payments through the app or share their personal QR code or payment link to receive a payment. To move money to a UAE bank account from the Careem wallet, Customers can simply tap the withdraw button in the app.

Careem Pay’s P2P transfer service is available to all Customers in the UAE and will be introduced in other countries soon. To send, request or receive cash, open or download Careem from the Apple App Store, Google Play, or via direct Android download.


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