Careem Pay launches peer-to-peer transfer facility and digital wallet in the UAE

Careem Pay has launched a digital wallet in the UAE that stores money for customers and allows for peer-to-peer (PSP) transfers too.

Money from the Careem Pay digital wallet can also be withdrawn to any UAE bank account. Careem Pay will also soon issue physical and virtual Careem cards that can be used at ATMs and at merchants, and introduce international remittance solutions for both its customers as well as its captains.

The Careem Pay digital wallet and P2P transfer have been launched in partnership with First Abu Dhabi Bank and payments solution provider Magnati, and are authorised by the UAE Central Bank.

To send money with Careem Pay, customers can select a recipient from their contact list or use the recipient’s phone number — there is no need to add the recipient’s IBAN or add them as a beneficiary. Customers can also request payments through the app or share their personal QR code or payment link to receive a payment. To move money to a UAE bank account from the Careem wallet, customers can tap the withdraw button in the app.

Careem Pay’s P2P transfer service is available only to customers in the UAE for the moment, though the company adds it plans to roll it out in other countries soon too.

Careem has integrated a digital process of verifying customer identities of customers who wish to open their digital wallet.

The digital wallet can also be used to pay for goods and services availed through the Careem app, and the company says that it will soon be launching a facility wherein funds in the wallet can be used to by goods and services beyond the Careem app.

It added to the other products available through Careem Pay, which include paying bills, splitting bills, and making card payments both on and beyond the app – including at third-party online merchants.

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