Careem, the region’s leading ride-hailing platform, has launched mobile recharge payment services within the Careem PAY wallet across Egypt and Pakistan, with UAE and Jordan to follow soon.
Careem entered the payments space with closed-loop peer to peer transfers in November 2018 as part of a broader, ambitious payment strategy. Careem PAY wallet is the most downloaded wallet in the Middle East region and one in three rides booked by Careem customers are paid for via the Careem PAY wallet.
As Careem moves towards its super app strategy, payment capabilities will be a critical enabler for multiple products and services and for hosting third parties. With only 14% of MENA’s population using banks, Careem is aiming to address this gap with a digital wallet and through financial services in the future.
Managing Director of Careem PAY, Junaid Iqbal said:
Careem’s payment offerings will be core to becoming the region’s every day super app. Our wallet is the most downloaded digital wallet in the market and we will continue to add more products and services that can be paid for through our platform. With only 14% of the region holding a bank account, there is a massive opportunity for us to serve this unaddressed audience and enable them to participate in digital finance. Providing the option to purchase mobile recharge credit is the beginning of many more ways in which we aim to simplify and improve our customers’ lives.
How customers purchase mobile credit within the Careem app:
- Update to the latest version of the Careem app on Android.
- Open the Careem PAY Wallet screen.
- Tap on ‘Mobile Recharge’.
- Enter or select from your contact list the mobile number that you’d like to recharge.
- Select or enter the recharge amount.
- Confirm payment. The credit will be added directly to the receiver’s number.