Careem Pay Launches Remittance Service From UAE to Egypt

Careem Pay, the financial services arm of the Careem app, has expanded its remittance offerings to include transfers from the UAE to Egypt. This service allows UAE residents to send money directly to bank accounts in Egypt, a country that ranks among the top five remittance destinations from the UAE, with an estimated market size of approximately USD 10 billion in recent years.

The expansion coincides with the Ramadan season, a period when remittances typically increase as expatriates provide financial support to their families for charitable purposes and upcoming Eid celebrations.

Careem Pay's remittance service is part of its broader mission to simplify financial services in the region, offering features such as peer-to-peer transfers, bill payments, and digital wallet services. To use the international money transfer service, customers can download or open the latest version of the Careem app and select 'Send Money' on the home screen.