Visa On The Role of ‘Super Apps’ In Driving Emerging Market Growth
In the case of Dubai-based ride-hailing and delivery platform Careem and its efforts to modernize payments in the Middle East North Africa (MENA) region, add “timely” to the list.
The platform’s deal with Visa to bring enhanced payments together with financial management tools in-app for consumers and Careem Captains — the gig workers who comprise its indie workforce — is another win, after being acquired by Uber for $3.1 billion in January.
Bringing digital finance to emerging markets like MENA is crucial, as micro merchants of one to two people, often underbanked or unbanked, drive these regional economies. Many are from one country and working in another, sending money cross-border to people back home.
Photo courtesy of Michael Schwarzenberger.