Dubai, June 19th, 2024 - Payrails, the payment operating system for global enterprises, announced a strategic partnership with Careem, the region’s leading multi-service app, to facilitate payments for Careem’s services, including ride-hailing, food and grocery delivery, bill payments, domestic and international transfers, and more.
By integrating Payrails’ dynamic payment routing solution and making local payment integrations easier to activate, Careem can enter new markets faster through a central provider for integration with new partners.
Payrails provides industry-leading payments solutions to global enterprises operating at scale, removing complexity for merchants by streamlining the integration of payment service providers through one comprehensive platform. Leveraging this platform, Careem is able to route payments along the most strategic path to drive payment conversions. The system makes payment integrations and switching between local processors and payment methods easier, simplifying the checkout experience for Careem customers across the region.
Mohammad El Saadi, VP of Careem Pay, said: “Careem Pay helps millions of people to manage their payments, run errands, move around, and more, all within one Everything App. Our partnership with Payrails helps us streamline transactions and bring our services to even more customers across the region.”
The Andreessen Horowitz-backed founders have strong connections in the MENA region, having developed the payment acceptance technology for leading enterprises across several industries, including Just Eat Takeaway, Preply, Vinted and Teknasyon.
“We are a global partner with a strong local knowledge of MENA merchants and their payment challenges” said Payrails CEO, Orkhan Abdullayev. “We are excited to join forces with Careem, solving complex payment processes and improving payment performance across all operational markets. Our modular technology integrates seamlessly with any payment use case and enhances Careem’s existing setups, increasing flexibility and scalability.”
The Payrails platform is specifically designed for enterprise clients handling large volumes of transactions giving them access to a full suite of advanced solutions for automation and payment optimization. This includes a multi-payment service provider (PSP) and multi-payment method integration layer, automatic payment retries, a PSP-agnostic token vault, dynamic customizable checkout pages, native reconciliation and ledgering tools, as well as advanced analytics solutions.
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About Payrails:
Payrails is a flexible payment infrastructure for high-growth businesses to accept payments globally and automate financial operations in a unified platform. After building and scaling the FinTech arm at the world’s largest delivery platform, Orkhan Abdullayev and Emre Talay founded Payrails in 2021 and have launched their next-generation operating system to enable enterprises to build, operate, and scale payment solutions without the need for costly and complex in-house infrastructure. The Berlin-based company was founded in 2021; has onboarded multiple high-profile early customers including Vinted and Just Eat Takeaway; and has raised $20.8 million from some of the world’s most established investors, including Andreessen Horowitz, EQT Ventures, General Catalyst, and HV Capital.
About Careem:
Careem is building the Everything App for the greater Middle East, making it easier than ever to move around, order food and groceries, manage payments, and more. Careem is led by a powerful purpose to simplify and improve the lives of people and build an awesome organisation that inspires. Since 2012, Careem has created earning opportunities for over 2.5 million Captains, simplified the lives of over 50 million customers, and built a platform for the region’s best talent to thrive and for entrepreneurs to scale their businesses. Careem operates in over 70 cities across 10 countries, from Morocco to Pakistan.
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