Latest news with #moneytransfers
UAE Moments
5 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
23-05-2025
- Business
- Finextra
Panda Remit expands into Africa with dLocal
dLocal, the leading cross-border payment platform connecting global merchants to emerging markets, has announced a strategic partnership with Panda Remit, a global remittance provider facilitating fast and cost-effective international money transfers. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Through this partnership, Panda Remit expands its payout capabilities, offering secure and efficient payment solutions for recipients in Africa. Access to fast and reliable remittance services is crucial for individuals in emerging markets. However, traditional remittance solutions often come with high fees, delays, and limited accessibility. In Africa, where mobile wallets and bank transfers are essential for financial inclusion, ensuring a seamless payout experience is critical. According to the World Bank, Sub-Saharan Africa has the highest remittance costs globally, with an average of 8.72% for sending $200 in 2022. Additionally, 52% of adults in Sub-Saharan Africa lack access to formal financial services. By leveraging dLocal's payment network, Panda Remit is able to tackle these challenges head-on, offering recipients in critical African markets faster, more efficient solutions. This collaboration reduces transaction costs, increases operational efficiency, and accelerates market expansion, ensuring reliable access to funds for those who rely on remittances. With access to local and alternative payment methods—including bank transfers and mobile wallets like M-Pesa, Orange, and Airtel—across key markets in North, West, and East Africa, Panda Remit now offers tailored solutions that meet diverse recipient needs. This integration enables faster transfers, lower costs, and enhanced security and flexibility, improving the experience for both senders and recipients. This partnership exemplifies a shared commitment to transforming remittance services in Africa. dLocal and Panda Remit are not only supporting global financial accessibility but also enabling greater access to funds into the fast-growing African market. This collaboration strengthens Panda Remit's position as a key player in offering seamless cross-border remittance services across the continent. 'Partnering with dLocal enables us to expand our presence across Africa, offering reliable payout options that meet the diverse needs of our users,' said Alfred Yang, Head of Region at Panda Remit. 'At Panda Remit, it's crucial to simplify international cross-border remittances and provide an affordable, efficient way for users to send and receive funds.' 'Seamless remittances are a lifeline for millions in emerging markets, and enabling fast, cost-effective cross-border payments is at the core of what we do,'Justin Goh, Head of China at dLocal. 'By partnering with Panda Remit, we're driving their expansion of financial services across Africa, enabling faster, more secure fund transfers that not only benefit individuals but also strengthen the remittance landscape.'
