Citi Client Casebook Middle East and Africa 2022

Digital, Data and Connectivity 32 The Challenge Careem Egypt was looking for a convenient and cost-effective mode of payment for the Captains in Egypt. Captains registered with Careem provide ride hailing services to the customers and are paid on a per trip basis. As the Captains are not directly employed by Careem, it could be challenging for some of them to open a bank account due to certain requirements, such as the average balance maintenance and salary credits. And if they succeed in opening a bank account, there are challenges in maintaining them. As a result, Citi proposed the Mezza wallet solution, a simple and effective tool that aims to solve these pain points that some of Careem’s Captains could experience. The Solution Citi Egypt offers its clients the ability to make Automated Clearing House (ACH) transfers to mobile wallet holders (B2C flows). This innovative capability allows clients like Careem to initiate money transfers through Citi’s online banking channels (CitiDirect ® and CitiConnect ® ), to any mobile wallet in Egypt by simply initiating an ACH transfer. The process is simple, by replacing the beneficiary account number used in traditional ACH payments with the beneficiary’s mobile number, clients can quickly and efficiently initiate ACH account-to-mobile wallet payments. The Results Careem will realize the following benefits: • New payment method allowing Careem to pay its Captains in a seamless and efficient manner through existing Citi platforms. • Reduction in costs — Mezza wallet transfer fees are economical compared to domestic wire payments. • Expand Captain base — enroll Captains who do not have a bank account. • Play a vital role in financial inclusion in Egypt. In tandem, Careem Captains can benefit from: • Receiving their payments in a simpler and faster manner through digital wallets in comparison to a bank account, particularly for the Captains who may not have access to or prefer not to use traditional bank accounts. • The ability to receive payments instantly upon transfer. • Ease of cashing out at more locations. • Other services available on mobile wallets. Careem Careem Initiates Payments to Captains via Mezza Wallets in Egypt Careem is the everyday super-app for the greater Middle East region. A pioneer of the region’s ride-hailing economy, Careem provides a host of daily services that people need to move around, order things, and transfer money in one unified smartphone app. Careem’s mission is to simplify and improve the lives of people and build an awesome organization that inspires. Established in July 2012, Careem operates in over 100 cities across 13 countries. Careem became a wholly-owned subsidiary of Uber Technologies, Inc. in January 2020.