Careem x Adyen: Boosting loyalty, trust and revenue

Now, with such a huge user base and diverse services, the big question is: How does a business this size maintain fast, secure, and smooth operations? How can it safeguard customer data to maintain user’s trust?

We spoke to Careem to find out how teaming up with Adyen as a payment partner in 2017, helps bring in more revenue, boost customer loyalty and manage potential risks.

54% of businesses in the UAE experienced fraud attempts. With fraud tactics becoming more sophisticated, there's a pressing need for a more agile approach to detect, prevent, and respond to fraud. Careem processes over a million transactions daily. Addressing such security issues is crucial, as it can impact one of Careem’s key focuses: customer trust.

Today, when you use Careem’s app, You’ll most likely complete the check out without noticing the robust risk tool working in the background. Adyen’s product, RevenueProtect, identifies suspicious attempts without disrupting the payment flow for genuine customers. It quickly validates cards and employs specific rules to counter chargebacks.

RevenueProtect, allows Careem’s users to enjoy a speedy and risk-free payment journey, while simultaneously identifying and analyzing payment data in real-time to mitigate potential risks. It can be activated with a switch of a button, after integrating with Adyen’s platform.

Any slight improvement in authorization rates can translate into a substantial increase in revenue. Careem wanted to unlock higher authorization rates and tap into this marginal gain. To do so, they use Adyen's Network Token Optimization solution powered by machine learning. It automatically decides whether to send a primary account number or a token to the issuing bank, increasing the chances of authorization. 

Careem experienced a 2% boost in authorization rates with this implementation, saving thousands of transactions.

When businesses expand across borders, they start to partner with local acquirers and payment providers in every country to facilitate their payments. But more partners can mean greater complexity.

To avoid this, Careem wanted to have a centralized payment system to eliminate friction and streamline payments. It prioritized giving its users high-quality services in a swift manner. It was also essential to maintain its level of service across different markets.

The partnership between Careem and Adyen represents a transformative journey in overcoming complex payment challenges. Adyen's innovative solutions, including RevenueProtect and Network Token Optimization, not only fortify Careem's defenses against fraud but also significantly improves authorization rates.  Using Adyen's single platform streamlines Careem’s operations, paving the way for a seamless and centralized payment setup.

As Careem looks to the future with exciting growth plans, the collaboration with Adyen emerges as a cornerstone for scaling operations and services. This partnership is more than a strategic alliance; it's a commitment to efficiency, security, and continuous innovation in the dynamic landscape of digital services. Together, Careem and Adyen are not just transforming payments; they’re shaping the future of customer experiences in the regions they serve.