Page 99 - AAE PR REPORT - January 2025

“We’ve removed fixed fees for Careem Plus members and offering member-only exchange rates to
ensure that you save more with every transfer.”

Careem Pay members, the company says, ‘save an average of Dh300 per month, and can now
boost their savings by hundreds of dirhams with the new international transfers benefit’.

The new remittance benefit allows members to save even more while supporting their families or
managing their expenses and investments abroad

Mohammad El SaadiCareem Pay

As anyone in the industry knows, if consumers sign up for a membership program, chances are they
will stick to using that channel when it comes to sending money. “Botim, e& money and Careem
Pay are revising the rules of the remittance game in the UAE,” said a senior official with a leading
exchange house.

“Legacy remittance service providers need to be nimble in meeting these challenges. The UAE’s
market share in the remittance sector is extremely fluid.”

'Save on every dirham sent'
The mood among UAE consumers sending funds abroad is also a factor. Many of them, whether
they are an expat from India or the Philippines, are intent on saving every dirham as they make full
use of their currencies' slide against the dollar. If it means sending money at zero or lowest rates in
the market, then they will search for that deal - and use it.

Salary advance

Recently, Al Ansari Exchange introduced a ‘send now pay later’ option and even a salary advance
feature for some of their clients. Other leading FX exchange houses confirmed that they are
consider similar or other incentives targeted at cost-conscious customers.

https://gulfnews.com/business/markets/on-remittances-uae-consumers-get-zero-fixed-fees-
salary-advances-even-more-1.500025439