Wednesday, May 22, 2024
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Careem Pay Partners with Lulu International Exchange

The UAE-based multinational company, Careem connects directly with Lulu Exchange, one of UAE’s largest licensed remittance providers. Careem in collaboration with Lulu Exchange is going to launch digital remittance to Pakistan.

Now customers can seamlessly transfer money from the UAE to Pakistan with a few simple taps. Users can send money abroad in minutes at competitive rates. Funds would be directly remitted to your recipient’s bank account whether they are Careem or non-Careem customers.

The fund’s transfer process is fully digital with electronic KYC completed in seconds. This will make it possible to send money overseas in just a few taps. Transactions exceeding AED 400 are free of charge.

Mudassir Sheikha, CEO, and Co-founder of Careem said, “Over a million and a half Pakistanis live in the UAE, including thousands of hard-working Careem Captains. We’re excited to really simplify and improve their experience when sending money home to support their families.”

“Building on our digital wallet, P2P transfer and bill payments services, international remittance is a natural progression in Careem Pay’s mission to empower people by simplifying their payment experiences and access to financial services,” said Madiha Sattar, VP of Careem Pay.

“Our international remittance service was launched with Careem’s Captains in mind, all of whom are familiar with the Careem platform and many of whom support dependents in Pakistan. Our goal is to provide the simplest, most user-friendly experience in the market,” she added.

Adeeb Ahamed, Managing Director of LuLu Financial Group, said, “Being a trusted name in cross-border payments, we are happy to integrate our fully compliant remittance-as-a-service platform with Careem Pay and contribute towards the rapid adoption of digital payments among the people of UAE.”

Careem is looking to expand the service to include the transfer to Egypt, India, and the Philippines in near future.

UAE is one of the largest sources of remittances to Pakistan. Over 1.7 million Pakistanis, working there, sent $452.5 million to Pakistan in November 2022 alone. So Careem’s partnership with Lulu Exchange will benefit millions of Pakistani workers living in the UAE.

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