Network International underpins Careem’s digital payments initiative

Dubai-based Careem has collaborated with digital commerce enabler – Network International – whereby it will be joining the latter’s roster of issuer processing clients, it was announced on August 4.

The five-year agreement will see Network International process prepaid cards on behalf of Careem in five countries: UAE, Saudi Arabia, Egypt, Jordan, and Pakistan.

The project is part of Careem’s digital payments initiative, and will enable Careem’s captains to instantly access money they earn for both cash and non-cash transactions, instead of waiting days for the next payment cycle.

Network International’s collaboration with Careem comes at a time, when consumers are increasingly opting for contactless payments, in the wake of preventive measures and safety protocols instilled to mitigate the Covid-19 pandemic.

Samer Soliman, managing director, Middle East at Network International, said: “We are delighted to collaborate with Careem on this critical project that not only addresses the urgent need for access to cash among the underbanked, but will also deliver the benefits of increased safety, security, convenience and flexibility via cashless transactions to all parties. Enabling digital payments is a commitment we share with Careem, and we look forward to further collaborations that accelerate the movement from cash to digital payments.”

“This partnership with Network International is an important milestone in Careem’s journey to become the region’s everyday Super App. Frictionless digital payments are an integral part of our helping simplify the daily lives of both our customers and captains. We care deeply about financial inclusion and so we’re excited to be working with an industry leader to put powerful FinTech in the hands of millions of people across our region,” noted Mudassir Sheikha, CEO and co-founder of Careem.

Careem launched a new ‘super app’ to offer all its services on a single platform. The new app will provide ride-hailing, food delivery as well as Careem Pay services to all its users.

Read more: Careem launches ‘super app’ to offer ride-hailing, delivery and payments on one platform

Careem, which was acquired by Uber for $3.1bn last year, cut 536 jobs or 31 per cent of its workforce, in May this year due to the impact of coronavirus-related restrictions on its business.

Read: Dubai’s Careem cuts 536 jobs, Uber Eats to stop Saudi operations

However, in June, Sheikha said it had started to see recovery since early May, and business had been “growing week-on-week double digit”.

Read: Uber’s Middle East unit Careem sees recovery after 80% slump