- Title: Uber's Middle East business Careem sees ride-hailing recovery next year
- Date: 28th June 2020
- Summary: DUBAI, UAE (JUNE 28, 2020) (VIDEO RECORDED BY REUTERS) (SOUNDBITE) (English) CAREEM CEO, MUDASSIR SHEIKHA, SAYING: "We launched our 'Super-app' last week, which is basically our attempt to make it easy for people to get as many services as they need on a daily basis, at the tap of a few buttons. And every transaction that we do on the super-app, as you can imagine, requires a payment to be made from one party to another party. So this announcement that we're making with visa, this partnership with visa, is our attempt to start putting the payment rates in place."
- Embargoed: 12th July 2020 12:07
- Keywords: Careem Coronavirus Health Ride-hailing Uber Visa
- Location: DUBAI, UAE
- City: DUBAI, UAE
- Country: UAE
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA007CKA8UX9
- Aspect Ratio: 16:9
- Story Text: Careem, a unit of Uber Technologies, expects ride-hailing demand to recover to pre-pandemic levels "sometime" in 2021, encouraged by a better-than-expected pickup as countries started to ease coronavirus-related curbs.
The company, which primarily operates in the Middle East, has seen its overall business, which also includes delivery services such as take-away food, recover at an almost double-digit rate week-on-week over the past two months as countries eased restrictions, he said.
Dubai-headquarterd Careem will fast-track plans to add more features to its 'Super App' that has expanded to also include some payment services.
It announced on Sunday it had signed a multi-year agreement with Visa that will see Visa push payment services become available through the app.
Careem, which was bought by Uber last year for $3.1 billion, shed nearly a third of its workforce as a result of the pandemic, laying off 536 staff.
(Production: Tarek Fahmy)
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