Careem Pay launches money transfers to Egypt
Dubai, UAE: Careem Pay, the payments platform within the Careem app, expands its remittance service to Egypt, allowing UAE residents to send money directly to bank accounts in Egypt quickly and at competitive rates.
Careem Pay facilitates money transfers to some of the largest remittance corridors in the world, including India, Pakistan, the UK, Europe, and the Philippines, providing a quick and simple way to support families, manage finances, or contribute to investments abroad.
The UAE is home to a large Egyptian expat population, making Egypt one of the top five recipients of remittances from the UAE. In recent years, the overall market size of remittance from the UAE to Egypt has been estimated at approximately USD 10 billion.
Mohammad El Saadi, VP of Careem Pay, commented: 'We're excited to expand our money transfer service to an important segment of the UAE population. Many Egyptian expats in the Emirates routinely send money home to support their families or manage their personal finances. We offer some of the best rates in the market - in fact we're 50% cheaper than banks. Our transfers are near-instant, with some completed in as little as seconds. Careem Plus members are also guaranteed rates better than the rates seen on Google, allowing them to save hundreds with each transfer.'
The new corridor launch comes in time for Ramadan, a period when remittances typically see a spike as customers increase financial support to their families for charitable purposes and upcoming Eid celebrations.
Careem Pay's mission is to simplify financial services in the region through a comprehensive payments platform that offers seamless P2P and international transfers, bill payments, and other digital wallet services.
To make an international money transfer through Careem Pay, download or open the latest version of the Careem app and select 'Send Money' on the home screen.
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 70 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.
For media inquiries:
Jasmine AlDameary
jasmine.aldameary@careem.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
9 hours ago
- Zawya
HP Dimension with Google Beam takes virtual collaboration to the next level at InfoComm 2025
News Highlights: HP Dimension with Google Beam is a first-of-its-kind, 3D video communication solution designed to bring true-to-life virtual collaboration to the enterprise The new HP Poly Studio A2 Audio Bridge and Table Microphone solutions are purpose-built to deliver enhanced audio for rooms of every size, including environments with HP Dimension with Google Beam HP Poly will be showcasing its suite of next-generation audio and video unified communications solutions designed for the future of work at InfoComm 2025 Dubia, UAE — Today at InfoComm 2025, HP Inc. (NYSE: HPQ) unveiled HP Dimension with Google Beam (formerly Project Starline), an AI-powered, true-to-life 3D video communications solution designed to take virtual collaboration to the next level. HP Dimension with Google Beam delivers a deeply immersive experience that replicates the feeling of being in-person, with no headsets, glasses, or wearables required. Developed in partnership with Google, HP Dimension with Google Beam is designed to transform the future of workplace communications by combining breakthrough 3D imaging, natural eye contact, spatial audio, and adaptive lighting into an elegant solution for small meeting spaces. Taking Virtual Collaboration to the Next Dimension As organizations with distributed workforces embrace the new world of work, a critical gap has emerged between virtual and in-person communication. While video conferencing tools have enabled teams to stay in touch across time zones, they often fall short in replicating the in-person experience. Today, 73% of knowledge workers say they want to feel more connected to their coworkers. HP Dimension with Google Beam is designed to establish deeper, more meaningful connections. It uses six cameras and state of the art AI to create a true-to-life 3D video of each participant, displayed on a special light field display with realistic size, depth, color, and eye contact. Testing, has shown a measurable impact compared to traditional video calls, with participants who used the solution for meetings reporting: A 28% increase in memory recall Up to 39% more non-verbal behaviors displayed At least 14% increase in focus on the meeting partner These findings translate to faster alignment, more meaningful exchanges, and better business outcomes based on the authenticity of each interaction. HP Dimension with Google Beam brings depth, clarity, empathy, and subtlety to virtual meetings to help redefine collaboration and bring people together, no matter how far apart they are. HP Dimension with Google Beam will provide a native Zoom Rooms or Google Meet experience and support three functions: 3D immersive one-on-one communications, 2D traditional group meetings, and meeting interoperability with cloud-based video services such as Teams and Webex. HP Dimension with Google Beam is Designed for the Future of Work HP Dimension with Google Beam represents the culmination of HP's ongoing investment in innovation to create a culture with more immersive and authentic collaboration experiences designed for the Future of Work. HP and Google are taking this technology into the enterprise, to deliver deeper, more authentic human connection and communication. "We believe that meaningful collaboration thrives on authentic human connections, which is why we partnered with Google to bring HP Dimension with Google Beam out of the lab and into the enterprise,' said Helen Sheirbon, SVP and President of Hybrid Systems, HP Inc. 'HP Dimension with Google Beam bridges the gap between the virtual and physical worlds to create lifelike virtual communication experiences that brings us closer together." 'HP Dimension with Google Beam needs to be seen to be believed – making it feel as though you are in the same room, even when you are miles apart,' said Andrew Nartker, General Manager of Google Beam, Google. 'We are excited to bring distributed teams together in a way that feels just like meeting in person, and HP is a perfect partner for this.' HP Poly Studio A2 Audio Solutions: Precision Audio for Modern Collaboration HP Poly Studio A2 Audio Solutions are purpose-built to deliver next-generation audio and more immersive meeting experiences with simplified deployment. Designed for seamless integration with the latest generation Poly Studio video solutions, the HP Poly Studio A2 system enables plug-and-play scalability in rooms of all sizes, and delivers clear, rich audio pickup so even participants that are farthest away in large meeting spaces are always heard clearly. The HP Poly Studio A2 Table Microphone features crystal-clear audio pickup, daisy-chain scalability for up to eight microphones, and clean cable management within a discreet, magnetic mount. The system offers premium performance at a fraction of the cost of traditional pro-AV installations. The microphones connect to the HP Poly Studio A2 Audio Bridge, which enables simple scalability[vii] and high-fidelity audio for up to 32 synchronized input channels (up to 8 table microphones total, each one with four microphones). Seamlessly connect to any next-gen Poly Studio video system over a single Ethernet cable, which unlocks the full power of advanced audio intelligence with NoiseBlockAI technology for enhanced communication. HP Poly will be showcasing its comprehensive suite of audio and video collaboration solutions designed for the future of work during InfoComm 2025 at the HP Poly booth #3742. About HP HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more.
Zawya
9 hours ago
- Zawya
Rush into safe haven assets pushes euro to highest since late 2021
The euro hit its highest level in almost four years against the U.S. dollar as investors rushed into safe-haven assets on Thursday while remaining cautious about the impact of the U.S.-China trade deal. Geopolitical risks were in focus after President Donald Trump said some U.S. personnel were being moved out of the Middle East because "it could be a dangerous place", adding that Washington would not allow Iran to develop a nuclear weapon. A cocktail of rising Middle East tensions and concern over the fragility of the trade truce between the U.S. and China drew investors into safe-haven assets. Analysts noted that the dollar serves as a key barometer of trade talks sentiment, while geopolitical instability prompted investors to buy safe-haven Swiss francs and yen. The franc rose 1.01% to 0.8123 versus the greenback , its highest level since April 22, and the yen climbed 0.70% to 143.40. The euro reached its highest since late 2021 at $1.1610 and was last up 0.99% at $1.1600. Some analysts argued that the euro has also drawn support from a hawkish European Central Bank, which hinted at a pause in its year-long easing cycle after inflation finally returned to its 2% target. However, ECB policymaker Isabel Schnabel said on Thursday the strong euro exchange rate is driven by a positive confidence shock in Europe - investors being drawn to the euro as a safe haven - and not by interest rate differentials. TRADE DEAL DEADLINE On the trade front, Trump said he would be willing to extend a July 8 deadline for completing trade talks with countries. But he added that the U.S. would send out letters in coming weeks specifying the terms for trade deals to dozens of other countries, which they could then embrace or reject. Investors argued that such a move keeps the risk of a July 9 jump in U.S. import tariffs on the table, which is regarded as negative for the dollar. The greenback and U.S. Treasuries dropped sharply after Trump announced a blitz of reciprocal tariffs - which he dubbed "Liberation Day" - in early April. "By year-end, we do not expect the effective average tariff rate to be much different from its current value," said Inga Fechner, senior economist for global trade at ING, indicating duties at 10-15% for the euro area, 50% for China and 10-15% for the rest of the world. Against a basket of currencies, the dollar fell 0.74% at 97.84. It hit 97.786, its lowest since March 2022. U.S. Treasury yields dropped on Wednesday as the closely watched "core" consumer price index eased some pressure on the Federal Reserve to maintain higher interest rates for longer. However, analysts remained cautious about the inflation outlook ahead of Thursday's release of the producer price index. "We suspect the core Personal Consumption Expenditures Price Index (PCE) reading will prove modestly firmer, although the result will also hinge on the inputs from core PPI," said David Doyle, head of economics at Macquarie. "Despite the subdued figures, through year-end, we expect year-on-year core inflation to remain elevated and potentially (to) rise as price pressures flow from recent tariff implementation." Markets priced two Fed rate cuts of 25 basis points by year-end, with an 80% chance of the first move in September and 100 bps by September 2026. The onshore yuan rose 0.1% to 7.1818 per dollar, though gains were capped by the still-fragile truce in the U.S.-China trade war and the uncertainty surrounding the next moves of the two countries. Barclays sees plenty of headwinds over the medium term that could push the currency back onto a depreciation path, even if it might gain a little further from below 7.20. (Reporting by Stefano Rebaudo; editing by Jacqueline Wong, Toby Chopra and Mark Heinrich)
Sharjah 24
9 hours ago
- Sharjah 24
SPC Free Zone secures coveted workplace accolade for 2nd year
The certification is based on direct and anonymous employee feedback through focused surveys, and SPC Free Zone's success stemmed from exceptional scores across categories, including Workplace Hospitality, Leadership Behaviour, Innovation, Engagement, Equity, Collaboration, and Safety. These high marks paint a clear picture of an environment where employees feel welcomed, respected, empowered, and secure. Commenting on the achievement, Saif Al Suwaidi, Director of SPC Free Zone, said: 'At SPC Free Zone, we firmly believe that human capital is the cornerstone of any sustainable institutional success. Being certified as a Great Place to Work for the second year in a row reflects this belief and stands as a direct result of the continuous support and guidance of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Book Authority, who has established a visionary leadership approach that places employees at the heart of development and excellence.' He added: 'This accomplishment affirms that a healthy and attractive work environment has a positive impact on team performance, while its influence extends to the wider business community. Today, more than 9,600 companies operate in an ecosystem that inspires growth, creativity, and sustainability, further enhancing the free zone's ability to attract international partners and reinforce its status as a global hub for knowledge and investment.' Fostering growth and employee well-being SPC Free Zone has also implemented various policies and initiatives aimed at promoting growth, connection, and well-being within the workplace. A standout example was the launch of the SPC Academy, which provided all employees with regular monthly learning and development workshops, offering access to cross-departmental training. This initiative aims to enhance the organisation's understanding of its dynamics and empower individuals to expand their skill sets and career trajectories. Through efforts to promote engagement and inclusion, the free zone also curated a calendar rich with meaningful activities that strengthen bonds and celebrate diversity. From recognising international days of recognition and raising awareness for various causes, to hosting grand annual gala dinners that reward exceptional achievements and fostering community during the sacred month of Ramadan with annual Iftars, SPC Free Zone has promoted a culture of value and acknowledgement. Understanding the importance of physical and mental health, the free zone also organises bi-weekly free sports events, encouraging employees to socialise, stay active, and recharge together. Driven by employee participation, new volunteer initiatives, sustainability projects, and community campaigns, the SPC Cares Corporate Social Responsibility programme has also added great value to the organisation. Following impactful actions like distributing iftar meals to those in need during Ramadan, SPC aims to become the first UAE free zone to integrate social impact as a core pillar of its employee experience and organisational identity. Globally connected business ecosystem SPC Free Zone is a globally connected business ecosystem hosting companies representing over 40 countries. Renowned for its specialised community of 1,500+ publishers and creators of educational and cultural content, it combines state-of-the-art facilities with an environment of innovation and sustainability. In late 2024, SPC Freezone launched the world's first AI-powered business licence, which can complete registration in under 5 minutes. This dual commitment to technological leadership and people-first values, as demonstrated by the latest certification from 'Great Place to Work,' makes SPC Free Zone a unique gateway for entrepreneurs and enterprises seeking growth in the UAE's thriving business economy.
