Careem Pay Expands Money Transfer Services from UAE to Egypt

In a move set to benefit thousands of Egyptian expatriates, Careem Pay has launched its remittance service to Egypt, making money transfers from the UAE faster and more affordable. The expansion is part of Careem’s growing financial services, simplifying cross-border transactions for its users.

With Egypt ranking among the top five destinations for remittances from the UAE—amounting to nearly $10 billion annually—this service is expected to ease financial transactions for Egyptian expatriates who regularly send money to their families.

According to Mohammad El Saadi, Vice President of Careem Pay, the new service offers some of the lowest transfer rates in the market. "Many Egyptian expats in the UAE send money home to support their families or manage personal finances. Our rates are up to 50% cheaper than banks, making it a cost-effective alternative," he stated.

In addition to affordability, Careem Pay promises speed, with most transfers completing within seconds. Customers subscribed to Careem Plus receive additional benefits, including exchange rates better than those listed on Google, allowing them to save even more on each transaction.

The timing of the launch coincides with Ramadan, a period when financial support and charitable donations typically increase. Careem Pay’s broader financial services include international money transfers, peer-to-peer payments, bill settlements, and digital wallet solutions, making financial transactions more accessible across the region.

With its latest expansion, Careem Pay continues to cement its role as a key player in digital financial services, catering to the needs of a diverse expatriate community in the UAE.