Careem is working on a new payment gateway called CareemPay that will allow users to spend Careem credits on other things other than just paying for rides. However, there hasn’t been an official announcement by the ride hailing regarding the upcoming financial gateway.
But according to sources Careem is looking for a General Manager of CareemPay. According to the job listing posted, Careem is looking to develop a product which causes a disruption in payments and logistics. It seems that the ride hailing app is looking to expand with a separate entity which stands on its own in the Fintech market segment.
Furthermore, the LinkedIn account of Ali Amin Sattar claims that he has been working as GM of CareemPay for over a year now. Various sources have stated that the next step by Careem is to open the wallet to outside vendors.
Careem after the official launch will be allowing users to spend their credits on offline and online purchases from various Careem partners. It is still yet to be clear if Careem is to launch their new product as a separate entity or will they be upgrading their existing in-app wallet to provide these additional functionalities.
The CareemPay is all set to launch in Saudi Arabia sometime next year after obtaining necessary regulatory approvals. Moreover, according to local news CareemPay is to launch in Pakistan within the next few months.
Reference links: www.techjuice.pk
