Careem’s Post

Transcript

Hey, I'm Moe. I leave the fintech business at Karim Karim pay right. So what inspired the launch of remittances at at Karim? The UAE is expat heavy population, 90% of the country as as people who moved here from other markets, that makes it a very special place. So if you look at it, the UAE is actually the second largest outward remittance market globally only after the US and this is a critical service for a lot of people living here in the UAE and in line with Kaden's mission to. Me that everything up that they're simplifying the lives of people across the organization. We felt it's very important for us to play a role and and doing that with their financial services. I think one of the biggest challenges was building awareness and gaining trust of customers. And so a big part of our focus in the early days is how do we make sure we are nailing the customer experience down that we are ensuring the money is getting to its destination and the most reliable way possible and build that trust through repeated usage with with our customers. Initially, customers could only send to. Pakistan for the first year of remittances existence and since then we've been scaling up very, very quickly from market to market, always delivering on the promise. We we keep the customers to gain their trust and have them become our ambassadors. So why, why do customers love Caripe and come to getting paid to to send their money back home? The first one is speed. So at one of the things we want to make sure of is if you are sending money through us, we are getting there, getting it into your bank account or into your family or friends bank account as quickly as possible, right? So actually over 80% of our transactions land within the 1st 30 minutes of you sending money. The second aspect is around convenience, right? Today the reality is huge portion of the UAE population has already on Kadeem. The payment method on file with us, they trust us. And so we've made it incredibly easy for somebody to enter that everything up, find cutting pay and then start, start, start with a few taps. They're able to get their money to anywhere they want. The third aspect of why customers use getting pay is on rates. So if you compare our rates to banks, for instance, we are consistently 50% cheaper than than your bank is providing you when you're trying to send money at home. But not only that. If you are carrying plus member, you actually get member only rates and 0 fees on all your transactions. Alright, so what's next for cutting pay? So First off, we're building better, improved customer experiences, including giving customers more transparency and insight into how much they're saving by sending money through PayPal over others. We are improving the way customers can send money to specific payout channels and different countries, particularly for people who like to send money to wallets back home. And lastly. We are expanding the number of countries you can send money to, starting off with Jordan and followed by US and Canada and many more throughout this year.