Case study
Careem x Adyen: Boosting loyalty, trust and revenue
Over millions of transactions daily. Discover how the Careem Super App offers seamless payments that complement its easy and simple user journey.
A few years ago in Dubai, getting a ride meant either hailing a cab or making a call, which could be a hassle, especially during peak hours under the blazing sun. However, Careem changed the game when it arrived in the UAE in 2012. As the Middle East’s first unicorn (a start-up with a valuation of at least US$1bn), Careem is now the go-to ride-hailing service for 70+ cities in the region. With 50 million users, the app has become more than just a ride service – it's a super app offering grocery shopping, cleaning services, food delivery, and more.
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.
Solution 1: How to outsmart the fraudsters
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.
"Our customers trust us. We've done a billion rides. At this scale, we can’t let our customers down. We can’t let our region down. Every single experience matters."
Madiha Sattar
VP Strategy & Transformation at Careem
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.
Behind the scenes, Adyen played a very fundamental role in protecting our business. We use Adyen’s RevenueProtect solution, which comes with great algorithms and machine learning that help us detect any suspicious behavior and make sure that we block it in real time.
Madiha Sattar
VP Strategy & Transformation at Careem
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.
Solution 2: How to uplift authorization rates
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.
"The Network Token Optimization solution from Adyen helped us to increase the authorization rate by 2%, which is a significant revenue uplift for the business."
Ahmed Salahy
Director of Strategic Partnerships
Solution 3: How to unify technology under one roof
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.
"We look to Adyen to provide that innovation, to spot where we can innovate, to provide creative solutions. That's one of the key values we look for from a partner."
Madiha Sattar
VP Strategy & Transformation
Back to the future
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.
"We have some very exciting growth plans, and Adyen is the partner we look for to scale our businesses and scale our services across these markets."
Madiha Sattar
VP Strategy & Transformation
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.