• 77% of Careem Pay customers that used the remittance service returned for repeat transactions every month. Average transaction time of 15 minutes

Dubai, UAE: Careem, the region’s leading multi-service app,  partners with iPiD, a leading technology provider, to enhance Careem Pay’s international remittance feature.

Through the partnership with iPiD, Careem Pay customers will only need to provide the account number of their receiver. The "Breeze" feature automatically validates the account number and pulls up the receiver's name for confirmation by the customer.

Mo El Saadi, VP of Careem Pay, commented: “We’re thrilled to partner with iPiD to provide our customers with an added layer of security and simplicity when making international transfers. Customers need to be reassured that they’re sending money to the right person, and the new “Breeze” feature, powered by iPiD will give them that reassurance. Careem Pay was launched to simplify payments experiences for customers, and we’re excited to streamline our remittance service even more to provide customers with simple, fast, and secure transactions.”

Damien Dugauquier, co-founder and CEO of iPiD  expressed his enthusiasm about the partnership, stating, "We believe that user experience and security are the two biggest differentiators for cross border transfers. Our collaboration with Careem Pay reflects our commitment to delivering innovative solutions in the digital payments space. Together, we strive to redefine the remittance experience for users."

Careem Pay’s international remittance was initially launched for UAE customers to Pakistan, but has recently expanded to India as well, enabling customers and Captains to make instant transfers to one of the largest remittance corridors in the region. As of 2022, India received $90bn in remittances, with UAE as its second-biggest source. The UAE is also home to the largest population of Indian expats, with over 3.554 million residing and working in the country as of August 2023.  Careem Pay plans to expand the service to include transfers to other important remittance corridors, including Philippines and Egypt, in the coming months.

Since its launch, Careem Pay's remittance service has recorded a healthy user retention rate of 77%, an average transaction time of 15 minutes, and a remarkable 40% month-over-month growth in remittances.

Careem Pay combines a seamless front-end user experience with money transfer technology to connect customers and Captains with remittance services provided by licensed providers such as Lulu Exchange

To initiate an international transfer, customers need to download the Careem app and select the Global transfer tile within the Careem Pay section of the app. Customers can open or download Careem from the  App Store, Google Play, or via direct Android download.

About Careem

Careem is building the Everything App for the greater Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more. Careem is led by a powerful purpose to simplify and improve the lives of people and build an awesome organisation that inspires. Since 2012, Careem has created earning opportunities for over 2.5 million Captains, simplified the lives of over 50 million customers, and built a platform for the region’s best talent to thrive and for entrepreneurs to scale their businesses. Careem operates in over 70 cities across 10 countries, from Morocco to Pakistan.

About iPiD

iPiD is a fast-growing, venture-backed fintech start-up with a vision to simplify, secure, and streamline global payments. iPiD offers two core solutions, Validate and Fetch, both of which are designed to provide an enhanced payment journey that reduces cost, mitigates fraud, and improves the overall customer experience. As a technology company, iPiD’s philosophy is to provide clients with the simplicity of a single API solution while ensuring the highest level of compliance with data security and data localization requirements.

For all media inquiries:
Tony Luke
Hill + Knowlton Strategies
E-mail: tony.luke@hillandknowlton.com