UAE-based Careem Pay Introduces Instant Transfers to Europe and Business Payments to India – Fintech News Europe

Careem Pay Expands International Remittance Services to Five New European Countries
Dubai, UAE — Careem Pay, the digital wallet and fintech platform within the Careem Everything App, has expanded its international remittance service, now enabling UAE residents to transfer money to Spain, Italy, France, Ireland, and Germany. This latest expansion adds five new European countries to Careem Pay’s growing list of remittance corridors, with further European destinations planned for upcoming months.
UAE residents can now send money to bank accounts in these European countries within minutes via SEPA (Single Euro Payments Area) instant bank transfer. Customers can transfer up to AED 150,000 (approximately $40,844) per transaction and up to AED 450,000 monthly directly to any valid IBAN within the newly added European countries. Careem Pay’s rates are competitively priced, reportedly 50% lower than traditional banks, and over 90% of transfers to Europe are completed in under 30 minutes.
In addition to individual remittances, Careem Pay has introduced a new feature enabling secure international transfers to businesses, starting with India. This feature caters to UAE residents with business commitments abroad, allowing them to pay for expenses such as real estate purchases, event bookings, and educational fees with the same speed and cost-effectiveness as personal remittances.
“Expats across the UAE have long been seeking a reliable, efficient, and quick way to send money to Europe for various needs, from family support to bill payments and personal investments,” said Abhishek Tripathi, Senior Product Director at Careem. “With the launch of these five European corridors, Careem Pay offers customers a convenient and secure way to support their families and manage their finances abroad.”
Careem Pay, which launched its remittance service in 2023, now supports near-instant transfers to India, Pakistan, the Philippines, the UK, and multiple European countries, reflecting its mission to enhance financial inclusion for a diverse customer base. A new rate alert feature notifies users when favorable transfer rates are available, further optimizing the remittance experience.
For first-time users, Careem Pay is offering a referral program, which provides new customers with up to AED 2,000 credited to their Careem Pay wallet when they send money abroad through a referral link.
To initiate a transfer, users simply need to open or download the Careem app, navigate to the Careem Pay home screen, and select the ‘Send Money’ option.
Careem Pay continues to evolve as a comprehensive financial management tool, streamlining bill payments, as well as domestic and international transfers for Careem customers, captains, and business owners across the UAE.