FinTech: Mastercard, and Careem Team Up To Boost Real Time Payments In the UAE

August 21, 2023 | FinTech, News

The Mastercard Send product will play a pivotal role in this effort.

Mastercard (NYSE: MA),, and Careem have collaborated to introduce a groundbreaking initiative aimed at enhancing real-time payments in the UAE. Careem Pay users in the UAE can now benefit from almost instant payments through the integration of Mastercard Send into the Careem Pay platform. This collaboration seeks to offer faster, more convenient, and secure money transfers and daily service access within the Careem app.

Mastercard, known for its role in advancing the global payments industry, aims to promote a digital economy with secure and efficient transactions., a global payments solution provider, employs Mastercard Send and its payment network to enhance its wallet top-up service for Mastercard cardholders in the UAE. Careem, a comprehensive platform offering various daily services, leverages its decade-long experience in secure payments and its large user base to lead in its field. (Fintech Global)

The integration of Mastercard Send into Careem Pay, available in 108 countries and now introduced in the UAE, is set to redefine payment processes in the region. This integration will facilitate quick refunds for marketplaces, improved person-to-person and international money transfers, and will benefit the retail and delivery sectors.

Mastercard’s extensive global network and’s presence in multiple locations, including Dubai and Riyadh, contribute to this innovative partnership. The collaboration is aimed at expanding payment options and enhancing user experiences. Careem Pay’s digital wallet and fintech services will benefit from the capabilities of Mastercard Send, furthering its goal of simplifying payment experiences and fostering financial inclusion in the UAE market.

Related Story:  Mastercard Buys Stake In MTN’s Fintech Unit For Undisclosed Amount

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…