After successful pilots in Egypt and Saudi Arabia, ride-hailing giant Careem has now made its new peer-to-peer (P2P), closed loop, prepaid credit transfer services available across all markets.
This new feature grants users the ability to transfer Careem prepaid credit in real-time using the native wallet in the Careem app. So next time you are running short of your Careem prepaid credit, just ask a friend to make a quick transfer to your account. Worth noting here is that this feature is only applicable to Careem rides, meaning you can not use the credit transferred to you for redeeming cash.
“From the early days of operations we have realized the opportunity to offer digital payments including P2P to our customers,” said Ali Sattar, head of CareemPay.
Sattar added: “With Careem Wallet now the most downloaded wallet of its kind in the region and with one-in-three rides currently being paid for via the wallet, customers are already highly-engaged and ready for more ways to use this core feature.”
According to the CareemPay head, the addition of this P2P feature signifies the company’s commitment to offering “a broad set of payment solutions,” which would further boost its efforts to emerge the “leading, regional internet platform.”
Careem’s latest move has come at a time when the global mobile payments industry is experiencing a rapid growth. Per a recent report by Allied Market Research, the net valuation of the mobile payment market worldwide will exceed $4.5 trillion by 2023.