Careem Pay introduces digital wallets to UAE customers

Update Careem Pay introduces digital wallets to UAE customers
Any UAE bank account can receive money from the digital wallet (Shutterstock)
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Updated 24 April 2022

Careem Pay introduces digital wallets to UAE customers

Careem Pay introduces digital wallets to UAE customers

DUBAI: Careem Pay has introduced its digital wallet to UAE customers, which allows them to use QR codes, payment links, or their phone number to send, request, or receive money.

Customers can send money to someone from their contact list or phone number without adding the recipient’s IBAN or adding them as a beneficiary to Careem Pay, according to a statement.

Any UAE bank account can receive money from the digital wallet.

Read More: Careem grows beyond original avatar; CEO eyes ‘Super App’ status

Mudassir Sheikha, CEO and co-founder of Careem, said: “Careem Pay’s purpose is to empower people by simplifying their payment experiences and access to financial services.”

Talking to Arab News during the press conference, he said, “the task of building something simple can be extremely challenging,” noting that he found this to be especially true when dealing with payments. 

Powered by First Abu Dhabi Bank and its payments solution partner Magnati, Careem Pay's digital wallet and P2P transfer product are authorized by the UAE Central Bank.

“We’re working with not just Magnati and FAB, but on the back, we’re working with payment gateways, with companies that are doing sanctions feeding, transaction monitoring, compliance checks, and just making sure that the product is as simple as possible,” Sheikha added to Arab News at the press conference.

“These products are the first step toward realizing our vision of simplifying financial services across the region as we expand Careem Pay into more markets,” Vice President of Careem Pay Madiha Sattar added.

She said that Careem has put three things in place for customer service. One is that if a customer gets stuck, Careem can be reached easily at different points in the process, and the second is proactive care for payments.

Sattar explained that proactive care payments refer to a dashboard that monitors and alerts the dashboard in the event a customer gets stuck somewhere or has a payment failure, and then Careem will call the customer depending on the type of failure.

Additionally, Careem gives customers the option to talk with a representative or to simply log in and take a look at certain points in the flow, as well as hit contact care, fill out a form, or call Careem directly, she added.

Sattar concluded that the customer service offered by Careem Pay differentiates it from any other payment service. “We never want a Careem payment user to get stuck in a line waiting for half an hour like you may do when you go to a bank. So it’s definitely a differentiator,” she said.

In conjunction with the launch of their new digital wallet, Careem Pay will soon release physical and virtual Careem cards that can be used at ATMs and at merchants.