Careem Pay, the digital wallet and fintech platform within the Careem Everything App, has launched its international remittance service to five European countries—Spain, Italy, France, Ireland, and Germany. The new service allows UAE residents to transfer money to bank accounts in these countries in minutes, with plans for more European corridors to follow soon.
Through a Single Euro Payments Area (SEPA) instant bank transfer, users can send up to AED 150,000 ($40,844) per transaction and up to AED 450,000 monthly to any valid IBAN within the five European corridors. The service boasts rates 50% cheaper than banks, with over 90% of transfers completed in under 30 minutes.
Careem Pay also introduced a new feature for sending remittances to businesses abroad, starting with India. This feature enables customers to make payments for various business expenses, such as real estate, event bookings, or educational fees, with transactions arriving within minutes.
Abhishek Tripathi, Senior Product Director at Careem, highlighted the growing demand among UAE expats for a reliable, fast, and cost-effective remittance service. Careem Pay’s competitive rates and fast transfers provide an efficient solution for supporting families and managing investments abroad.
Launched in 2023, Careem Pay’s remittance service now covers India, Pakistan, the Philippines, the UK, and Europe, aiming to enhance financial inclusion. Additionally, Careem Pay has introduced a referral program, offering new customers up to AED 2,000 in credits for sending money through the app.
To use Careem Pay’s international transfer service, users can simply open or download the Careem app and select ‘Send money’ from the home screen.
