Careem Pay, the payments platform within the Careem app, has expanded its remittance service to Egypt, allowing UAE residents to send money directly to bank accounts in Egypt quickly and at competitive rates.
The platform already facilitates money transfers to some of the largest remittance corridors in the world, including India, Pakistan, the UK, Europe, and the Philippines. It provides a fast and simple way to support families, manage finances, or make investments abroad.
Egypt is one of the top five recipients of remittances from the UAE, with a significant Egyptian expat population. The overall market size of remittance from the UAE to Egypt has been estimated at approximately USD 10 billion in recent years.
Mohammad El Saadi, VP of Careem Pay, shared, “We’re thrilled to expand our money transfer service to such an important segment of the UAE population. Many Egyptian expats in the Emirates regularly send money home to support their families or manage personal finances. We offer some of the best rates in the market—50% cheaper than banks. Our transfers are near-instant, with some completed in just seconds. Careem Plus members also receive rates better than those seen on Google, helping them save hundreds with each transfer.”
The launch of the new corridor comes at a time when remittances typically surge during Ramadan, as people send increased financial support for charitable purposes and upcoming Eid celebrations.
Careem Pay aims to simplify financial services in the region through a comprehensive payments platform, offering seamless P2P and international transfers, bill payments, and other digital wallet services.
To send money internationally through Careem Pay, users can download or open the latest version of the Careem app and select the ‘Send Money’ option on the home screen.
About Careem
Careem is building the Everything App for the greater Middle East, making it easier for people to move around, order food and groceries, manage payments, and more. Careem’s purpose is to simplify and improve lives, creating opportunities for people and building an inspiring organization. Since its inception in 2012, Careem has provided earning opportunities for over 2.5 million Captains and simplified life for over 70 million customers across 70 cities in 10 countries, from Morocco to Pakistan.
