Latest news with #CareemPay
UAE Moments
4 days ago
- Business
- UAE Moments
Careem's New UAE Feature - Send Money Fast to Jordan!
Careem Pay, the fintech arm of the UAE-based super app Careem, has officially launched international money transfers to Jordan, adding to its growing network of remittance corridors. This move marks a significant milestone in the region's digital finance ecosystem, especially ahead of Arafah Day and Eid Al Adha, a time that typically sees a spike in cross-border financial activity. Fast, Affordable Money Transfers to Jordan UAE residents can now send up to AED 25,000 per transaction directly to any Jordanian bank account with a valid IBAN using the Careem app. Funds are delivered in Jordanian Dinars (JOD) and are processed within 24 hours, offering both speed and reliability. Read More: Careem Pay Expands Remittance Service to 18 New Countries For repeat users, Careem charges a flat AED 10 fee per transaction. Meanwhile, Careem Plus subscribers benefit from zero fees on transfers above AED 1,500 and discounted rates for smaller amounts. To encourage adoption, first-time users enjoy no transfer fees on their first two transactions to Jordan. Strengthening a Key Remittance Corridor With a substantial Jordanian expatriate population living and working in the UAE, annual remittances to Jordan often exceed $1 billion, making it one of the top remittance routes in the region. Jordan now joins Careem Pay's expanding network of outbound corridors, which includes countries like India, Pakistan, the UK, the Philippines, Lebanon, Egypt, and several parts of Europe. By tapping into this critical corridor, Careem enhances financial inclusion and provides a much-needed service to expatriates seeking convenient and cost-effective money transfer solutions. A Boost to UAE's Fintech and Digital Remittance Ecosystem This launch underscores the UAE's momentum in fintech innovation, especially in the remittance space. Digital-first platforms like Careem Pay are transforming how money is sent across borders—offering faster, cheaper, and more accessible alternatives to traditional banks and exchange houses. The timing of this launch also aligns with broader government efforts to promote cashless economies, empower digital wallets, and support financial inclusion across the MENA region. Read More: How To Use a Careem Bike in Dubai More Than Just Transfers – What Else Can You Do with Careem Pay? Careem Pay is not just about international remittances. As part of the Careem super app, it also enables users to: Split bills with friends after rides or food orders Pay for rides, food deliveries, and groceries directly in the app Top up mobile credit and pay utility bills Use QR codes to pay at local merchants Access exclusive rewards and cashback offers through Careem Plus By integrating payment features into its mobility and delivery services, Careem offers users a seamless lifestyle and financial management platform in one app. To wrap up, Careem Pay's new feature offers UAE users a fast, secure way to send money to Jordan with ease. This innovative service enhances financial connectivity across borders, bringing convenience and speed to personal transfers. With just a few taps in the Careem app, sending money to loved ones has never been more seamless.
Finextra
7 days ago
- Business
- Finextra
Careem Pay launches international money transfers to Jordan
Careem Pay, the digital payments platform within the Careem app, expands its remittance service to Jordan, allowing UAE residents to send money directly to bank accounts in Jordan quickly and at competitive rates. 0 Careem Pay facilitates money transfers to some of the largest remittance corridors in the world, including India, Pakistan, the UK, Europe, the Philippines, Lebanon, and Egypt, providing a quick and simple way to support families, manage finances, or contribute to investments abroad. The UAE is home to a large Jordanian expat population, making Jordan one of the top recipients of remittances from the UAE. In recent years, annual remittances from the UAE to Jordan have exceeded USD 1 billion. Mohammad El Saadi, VP of Careem Pay, commented: 'Sending money home is one of the most meaningful things our customers do with Careem Pay. For many Jordanian expats, it's about supporting loved ones, covering school fees, or helping parents with everyday expenses. We wanted to make that process simpler, faster, and more affordable.' The launch comes in time for Arafah Day and Eid Al Adha, when international money transfers from the UAE typically see a spike as people increase financial support to their families abroad for charitable purposes and Eid preparations. To celebrate the launch, first-time remittance users enjoy zero fees on their first two transfers to Jordan. Repeat customers can send up to AED 25,000 per transaction, with a fixed AED 10 fee on all transfers. Careem Plus members benefit from even greater savings, with zero fees on transfers above AED 1,500 and reduced fees on smaller amounts. Careem Pay's transfers to Jordan are completed within 24 hours on average, offering a speed that rivals traditional exchange houses. The service supports transfers in Jordanian Dinars directly via bank transfer to any valid IBAN. Careem Plus subscribers benefit from a wide range of exclusive perks across Careem services, including discounted rides, free delivery on food and groceries, and zero-fee remittance on eligible transfers. To send money to Jordan or any of the other available corridors, download the latest version of the Careem app and select 'Send Money' on the home screen.
TECHx
7 days ago
- Business
- TECHx
Careem Pay Expands Remittance Service to Jordan
Home » Emerging technologies » Fintech » Careem Pay Expands Remittance Service to Jordan Careem Pay, the digital payments platform within the Careem app, has announced the expansion of its remittance service to Jordan. This new feature allows UAE residents to send money directly to bank accounts in Jordan. According to Careem, transfers are completed within 24 hours on average. The service supports direct bank transfers in Jordanian Dinars to any valid IBAN. This move comes as part of Careem Pay's wider effort to serve some of the world's largest remittance corridors, including India, Pakistan, the UK, Europe, the Philippines, Lebanon, and Egypt. Careem Pay reported that the UAE is home to a large Jordanian expat community. Annual remittances from the UAE to Jordan have exceeded USD 1 billion in recent years. Mohammad El Saadi, VP of Careem Pay, revealed, 'Sending money home is one of the most meaningful things our customers do with Careem Pay. For many Jordanian expats, it's about supporting loved ones, covering school fees, or helping parents with everyday expenses. We wanted to make that process simpler, faster, and more affordable.' The launch was timed ahead of Arafah Day and Eid Al Adha. Historically, international money transfers increase during these periods as customers support their families abroad. To mark the launch, Careem Pay introduced limited-time offers: First-time remittance users get zero fees on their first two transfers to Jordan. Repeat customers can send up to AED 25,000 per transaction, with a fixed AED 10 fee. Careem Plus members enjoy added benefits. These include zero fees on transfers above AED 1,500 and lower fees on smaller amounts. They also receive exclusive perks across Careem services, such as discounted rides and free delivery on food and groceries. To send money to Jordan or other supported countries, users can download the latest version of the Careem app and select 'Send Money' from the home screen.
Zawya
7 days ago
- Business
- Zawya
Careem Pay launches international money transfers to Jordan
Jordan is one of the UAE's largest outbound remittance corridors, with the annual outbound flow averaging over $1 billion Dubai, UAE: Careem Pay, the digital payments platform within the Careem app, expands its remittance service to Jordan, allowing UAE residents to send money directly to bank accounts in Jordan 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, the Philippines, Lebanon, and Egypt, providing a quick and simple way to support families, manage finances, or contribute to investments abroad. The UAE is home to a large Jordanian expat population, making Jordan one of the top recipients of remittances from the UAE. In recent years, annual remittances from the UAE to Jordan have exceeded USD 1 billion. Mohammad El Saadi, VP of Careem Pay, commented: 'Sending money home is one of the most meaningful things our customers do with Careem Pay. For many Jordanian expats, it's about supporting loved ones, covering school fees, or helping parents with everyday expenses. We wanted to make that process simpler, faster, and more affordable.' The launch comes in time for Arafah Day and Eid Al Adha, when international money transfers from the UAE typically see a spike as people increase financial support to their families abroad for charitable purposes and Eid preparations. To celebrate the launch, first-time remittance users enjoy zero fees on their first two transfers to Jordan. Repeat customers can send up to AED 25,000 per transaction, with a fixed AED 10 fee on all transfers. Careem Plus members benefit from even greater savings, with zero fees on transfers above AED 1,500 and reduced fees on smaller amounts. Careem Pay's transfers to Jordan are completed within 24 hours on average, offering a speed that rivals traditional exchange houses. The service supports transfers in Jordanian Dinars directly via bank transfer to any valid IBAN. Careem Plus subscribers benefit from a wide range of exclusive perks across Careem services, including discounted rides, free delivery on food and groceries, and zero-fee remittance on eligible transfers. To send money to Jordan or any of the other available corridors, download 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 3.5 million Captains, simplified the lives of over 75 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
Mid East Info
01-05-2025
- Business
- Mid East Info
Fuze raises $12 million from Galaxy and e& Capital to scale its Digital Assets infrastructure - Middle East Business News and Information
Abu Dhabi, UAE and New York, USA –2025: Fuze, the Middle East and Turkey's fastest growing digital assets infrastructure firm, today announced the successful completion of a $12.2 million Series A funding round led by Galaxy (TSX: GLXY), a global leader in digital assets and data center infrastructure, and e& capital, the venture capital and investment arm of global technology group e& (ADX: EAND). Fuze provides Digital Assets-as-a-Service infrastructure enabling financial institutions and businesses across MENA and Turkey to offer regulated digital assets to their clients, as well as an Over-The-Counter (OTC) trading desk. In addition, Fuze has now launched a full suite of stablecoin infrastructure products and recently announced its expansion, through FuzePay, into payments. The Series A investment will fuel Fuze's regional and international expansion, accelerate product innovation and compliance, and support top-tier hiring. Mo Ali Yusuf, CEO and Co-Founder at Fuze, stated, 'Strategically, Galaxy's comprehensive digital asset capabilities and e&'s unparalleled network will fast-track our mission to enable any bank, fintech or traditional business to seamlessly integrate digital assets and accelerate regional digital asset adoption. We are seeing a huge surge in demand and we believe that in the next 12 months, every financial institution and business will leverage some type of crypto or stablecoin capability.' Leon Marshall, CEO of Galaxy Europe, added, ' We are thrilled to partner with Fuze and lead this Series A round. The Middle East is poised to become a major hub for innovation, with the UAE demonstrating a willingness to develop comprehensive regulatory frameworks for digital assets and Fuze rapidly advancing its digital assets infrastructure.' Fuze has been championed from the beginning by Further Ventures, an ADQ-backed venture builder and investment firm. Mohamed Hamdy, Managing Partner at Further Ventures said, 'This fundraising round marks an important milestone for Fuze, a company that Further Ventures backed since inception. We're proud to welcome leading global investors – including Galaxy, e& Capital, and others – to join us on this journey. We believe Fuze is poised to become a dominant force in enabling digital asset businesses around the world.' Harrison Lung, Group Chief Strategy Officer e&, said 'With our investment in Fuze, we're excited to align with a team that's setting the benchmark for what a future-ready, regulated digital asset ecosystem can look like. There's a natural synergy between Fuze and our fintech portfolio, from e& money to Wio and Careem Pay. And this investment is about backing bold companies who understand the long game, building digital assets infrastructure to supercharge the next wave of financial services innovation.' Since launching in 2023, Fuze has worked closely with global regulators to ensure compliant digital asset services and partnered with leading financial institutions. In the last year, the business has processed over $2 billion in total digital assets volume through their Digital-Assets-as-a-Service platform, stablecoin infrastructure, and OTC. About Fuze: Fuze is MENA's first-of-its-kind regulated digital assets infrastructure provider, offering financial institutions and businesses cutting-edge tools to integrate digital asset services securely and efficiently. Driven by a solutions-based approach, Fuze helps financial services providers to strategise, organise and implement digital assets infrastructure and quickly, securely launch regulated, world-class products across wealth and payments. Fuze was founded by an expert team of fintech, traditional finance (TradFi) and decentralized finance (DeFi) leaders, with its co-founders holding extensive knowledge from experience in global hypergrowth businesses: the CEO, Mohammed Ali Yusuf (Mo Ali Yusuf) has held prominent roles at and Visa; Arpit Mehta (COO) was previously in the leadership team at fintech leaders like Simpl and Clear; Srijan Shetty (CTO) built algorithmic trading systems at Goldman Sachs and worked at tech leader Microsoft. Fuze offers a Digital-Assets-as-a-Service infrastructure platform which enables banks and fintechs to embed regulated digital assets products in a B2B2C fashion. Additionally, Fuze provides an Over-The-Counter (OTC) service that supports institutions, funds, and HNIs (high-net-worth individuals) in executing large digital asset trades securely and efficiently. About Galaxy: Galaxy (TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia. About e& capital: e& capital is the venture capital and investment arm of e& that invests in the ideas and people that will build a better and brighter digital future. It supports innovative tech businesses, helping them to grow and enabling significant advances that move the world forward. e& capital invests in startups that dare to disrupt and challenge how things are done because they believe in something better. It works with brave entrepreneurs to turn their big ideas into tomorrow's leading companies. e& capital will use its deep investment and venture capital expertise to transform all technology sectors, with a focus on fintech, gaming, small and medium-sized businesses (SMB), software as a service (SaaS), HealthTech, EdTech, artificial intelligence (AI), machine learning (ML), and Web 3.0.
