Careem – the popular app-based ride hailing service is rumoured to bring its own payment gateway with the brand name of CareemPay that would allow users to spend Careem credits on much more than simply just paying for their rides.
Although, Careem has not officially announced the launch of its upcoming financial service but a job listing has popped up on a UAE based job seeking website for the position of General Manager of CareemPay.
The advertisement reveals that Careem is silently working to develop a product that may not necessarily associate with its ride sharing business but is meant to introduce an independent payment solution for multiple usage.
Furthermore, the job listing, we are talking about, is quite old whereas a LinkedIn profile of Ali Amin Sattar claims to be working on the same post for more than a year now. The profile reveals that the guy is a professional who is very well versed in the Fintech industry. He has previously worked in a similar capacity at both Telenor and Veon, Jazz’s parent company.
Early Signs of CareemPay
The year-long appointment of Ali Ameen Sattar as GM of CareemPay has started showing the existence of a financial solution besides existing Careem infrastructure. A recent update to Careem introduced the ability to send and receive Careem Credits through their in-app wallet.
This is a small but really significant milestone. The backbone of any financial gateway is its ability to send and receive money. Careem has taken an important step by incorporating P2P money transfer on its app. The functionality of sending and receiving credits is now live and is available for all Pakistani users too.
Future of CareemPay
Sources claim that Careem would be opening the Careem Wallet to outside vendors in coming days and weeks. In this regard, CareemPay will soon be officially launched allowing users to spend their credits on offline and online purchases from various Careem partners. Although, not certain for Pakistani market but CareemPay would land in Saudi Arabia later this year.
Careem is widely being used in Pakistan and its built-in wallets are getting popular among its frequent travellers. Let us see how Careem manages to gain confidence of Pakistani customers as lack of trust and lack of awareness to use modern payment solutions in the very society has made to struggle for major players of cashless players.