News
e& To Become A Major Stakeholder In The Careem Super App
e& will invest $400 million into the Careem Super App, in line with plans to transform the brand into a global technology and investments group.
e& has announced a new $400 million deal with Uber, and its local subsidiary Careem. The technology and investment group will acquire a majority stake in the Careem Super App, though the ride-hailing service will remain in Uber’s ownership and continue to offer its existing food delivery, micro-mobility, and fintech services to customers across the MENA region.
“We are excited to bring e& into the family. Their passion for uplifting the region and the synergies across their portfolio is extremely valuable. With two strong partners in e& and Uber, I have no doubt that we will build the preeminent technology platform of the region,” says Mudassir Sheikha, Careem CEO, and co-founder.
Careem will use the investment to expand core services and the Careem Plus subscription program, with the aim of becoming North Africa and the Middle East’s “everything app”.
Careem expects significant benefits from the e& partnership, including access to a customer base of 163 million subscribers across 16 countries. The investment will also unlock e&’s extensive experience in scaling complex tech ventures into new regions.
Also Read: A Guide To Digital Payment Methods In The Middle East
“The shared vision between e& and Careem is exciting, and we believe that together we’ll be able to enhance our impact across different markets in the region while pushing the boundaries of customer experience,” says e& Group CEO Hatem Dowidar.
Since being acquired by Uber in 2020, Careem has evolved into a multi-service app offering more than 12 individual services. Since the COVID-19 pandemic, UAE food delivery subsidiary Quik has grown 46X, with orders increasing by 86%. Meanwhile, micro-mobility service Careem Bike saw gains of 61%, while the company also brought new third-party services under its umbrella, including rental cars, spas, and laundry services.
Completion of the latest deal with e& will see even more comprehensive services offered, though the investment is still subject to regulatory approval and other administrative procedures.
News
Checkout.com Set To Launch Card Issuing In The UAE
The payment service provider’s expansion is a first-of-its-kind investment and could reshape digital transactions across the region.
Checkout.com is laying the groundwork to become the first global payments platform to introduce card issuing in the United Arab Emirates — a move that could reshape how businesses in the region manage financial transactions.
The company plans to roll out its domestic card issuance offering in the UAE by 2026, subject to regulatory approval. The launch would give businesses the tools to issue both physical and virtual branded cards. This, in turn, opens up new ways to reward customers, streamline expense processes, and handle B2B payouts efficiently.
Checkout.com’s CEO and Founder, Guillaume Pousaz, revealed the plans during Thrive Abu Dhabi, the firm’s debut conference in the Emirates. Joined on stage by Remo Giovanni Abbondandolo, General Manager for MENA, Pousaz presented to an audience of over 150 partners and merchants at Saadiyat Island. Also in attendance was H.E. Omar Sultan Al Olama, the UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications.
Abbondandolo highlighted the strategic importance of the announcement: “As a global business, we focus on bringing products to markets that our customers want and need. Today’s announcement is proof of our commitment to the MENA region and its rising influence in the digital economy. The appetite for innovation here is real, and we’re proud to be building the infrastructure that powers it”.
One early adopter of Checkout.com’s UAE acquiring services is Headout, a travel experiences marketplace, which recently named the payment provider as its main partner in Europe. The company has already begun card issuing there and is keen to expand that offering into MENA once approval is granted.
The expansion of services in the UAE and beyond builds on Checkout.com’s track record in the region. It was the first global payments firm to secure a Retail Payment Services license from the UAE’s Central Bank and was instrumental in rolling out Mada and Apple Pay in both the UAE and Saudi Arabia.
Also Read: Protecting Your WhatsApp Account From Hackers: Kaspersky Expert Tips
The firm has also been rolling out new products: One of the latest is Flow Remember Me, currently in beta testing. It allows shoppers to store their card information once and access it across Checkout.com’s entire network, potentially cutting checkout times by up to 70%.
Earlier this year, Checkout.com also introduced Visa Direct’s Push-to-Card solution in the UAE, enabling both domestic and international payouts. Its collaboration with Mastercard has grown as well, making it easier for businesses to send funds directly to third-party cards securely and quickly.
With regional tech ambitions on the rise — spurred by initiatives like Saudi Arabia’s Vision 2030 and the UAE’s 2031 Agenda — Checkout.com sees its role as one of a key enabler. “Our mission is to help ambitious businesses navigate the complexity of payments, so they can move faster, go further, and make the most of every opportunity,” said Abbondandolo. “In MENA, performance is personal. It’s local. It’s built on trust. And when payments perform, businesses thrive”.
Free VPNs: Should You Be Using Them?
Checkout.com Set To Launch Card Issuing In The UAE
Hyper-Personalization: How Far Is Too Far?
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
