Careem Pay Partners with iPiD
The partnership streamlines remittance transactions through automatic retrieval of user details on the Careem app, recording a healthy user retention rate of 77%.
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Careem, UAE’s multi-service app, partners with iPiD, a technology provider, to enhance Careem Pay’s international remittance feature. Through the partnership with iPiD, Careem Pay customers will only need to provide the account number of their receiver.
The “Breeze” feature automatically validates the account number and pulls up the receiver’s name for confirmation by the customer.
Mo El Saadi, VP of Careem Pay, said, “We’re thrilled to partner with iPiD to provide our customers with an added layer of security and simplicity when making international transfers. Customers need to be reassured that they’re sending money to the right person, and the new “Breeze” feature, powered by iPiD will give them that reassurance. Careem Pay was launched to simplify payment experiences for customers, and we’re excited to streamline our remittance service even more to provide customers with simple, fast, and secure transactions.”
Damien Dugauquier, co-founder and CEO of iPiD said, “We believe that user experience and security are the two biggest differentiators for cross-border transfers. Our collaboration with Careem Pay reflects our commitment to delivering innovative digital payment solutions. Together, we strive to redefine the remittance experience for users.”
Careem Pay’s international remittance was initially launched for UAE customers to Pakistan but has recently expanded to India as well, enabling customers and captains to make instant transfers to one of the significant remittance corridors in the region.
Since its launch, Careem Pay’s remittance service has recorded a healthy user retention rate of 77%, an average transaction time of 15 minutes, and a remarkable 40% month-over-month remittance growth.
Careem Pay combines a seamless front-end user experience with money transfer technology to connect customers and Captains with remittance services provided by licensed providers such as Lulu Exchange.
