Careem Pay has launched a new remittance service for UAE residents, allowing direct transfers to bank accounts in Egypt. The service offers competitive rates, quick transactions, and benefits for Careem Plus members. This expansion supports the UAE’s digital financial inclusion goals and addresses the needs of the Egyptian expatriate community.
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Paymob has secured a full operating license from the UAE’s Central Bank, boosting its growth potential in the region. The company plans to expand its team and take advantage of the UAE’s standardized infrastructure and instant payment platform, Aani, to streamline merchant onboarding and offer instant settlement for payments.
Astra Tech has secured $500 million in financing for its fintech subsidiary, Quantix, to expand its consumer lending platform and Ultra app, which has over 150 million users globally. The funding will help enhance the app’s financial services and integrate more features, supporting growth in the UAE fintech sector.
MoneyGram has partnered with Comera Pay to offer seamless cross-border remittances from the UAE to over 200 countries via MoneyGram’s global network. Integrated into the Comera app, this collaboration supports the UAE’s transition to a cashless society, leveraging Comera Pay’s recent approval by the UAE Central Bank.
