back Back

Careem Pay expands international remittances to the UK

By Gloria Methri

April 23, 2024

  • Careem App
  • Careem Pay
  • Cross Border Payments
Share

Fintech news, Careem Pay, Payments solutions, Remittances Services, International Transfer Services, India Payments, UAE payments, Fintech News,Digital wallet and FinTech platform Careem Pay has expanded its international remittance services to include ‘Faster Payments’ to the UK for UAE residents.

Careem Pay enables customers, Captains, and business owners to manage their money, settle bills, and make seamless transactions both within and beyond the app. The Careem Pay international remittance service to India and Pakistan has been adopted by expats across the UAE.

The new UK remittance service enables customers in the UAE to send money to UK bank accounts in minutes using just the recipient bank account number and sort code, or the IBAN. With competitive foreign exchange rates, customers can transfer up to AED 45,000 in a single transaction and up to AED 135,000 monthly.

Mohammad El Saadi, VP of Careem Pay, said, “Careem Pay’s purpose is to simplify and increase access to financial services for people across the region. We were thrilled to see our remittance services to Pakistan and India enable so many of our customers and Captains in the UAE to send money back home within minutes, and we are excited to now extend this service to another significant segment of the UAE population with near-instant money transfers to the UK.”

He added, “Our UK remittance service will be particularly helpful for anyone who makes consistent transfers to the UK, be it to support families back home, make mortgage payments or contribute to other personal investments.”

As of 2023, approximately 240,000 British expats reside in the UAE. The UK received over $2.9 billion from the UAE in less than one year. To initiate an international transfer, customers can download the Careem app and select the Global transfer button within the Careem Pay section. Customers can also open or download Careem from the App Store, Google Play, or via direct Android download.

Previous Article

April 23, 2024

Sopra Banking Software & Paymentology partner on card issuing services

Read More
Next Article

April 23, 2024

Klarna & Expedia team to offer flexible payments in the US

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Careem App

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Confida and illimity create new capillary proximity network, Pehi

Read More

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023