Fintech app for expatriate employees launched by Dubai’s Rise

By Rahul Vaimal, Associate Editor
  • Follow author on
Representational Image

UAE-based financial service network Rise has unveiled ‘Xare’, an innovative new application specifically tailored for expatriate employees.

The free-to-use mobile app would enable millions of people inside and outside the UAE and the wider Gulf to send cash in minutes. The firm’s deep-rooted commitment to centralizing banking and providing creative products to those who are unable to access conventional financial services resulted in the creation of the Xare app.

By empowering overseas workers to share their funds safely, efficiently, and instantly using a completely digital app, Xare is reimagining money transfers.

Other than money transfer, there are multiple uses of Xare application. To avoid one party having to take out a costly short-term loan, the product allows friends to share credit.

Short-term loans can cost up to 24 percent a month in many advanced markets, such as the UK, and are frequently unfair on the borrower. Xare app proposes a fairer solution, encouraging individuals to assist each other even though they do not have the resources to do so. Parents who want to give their children cash for their day-to-day expenses or as a gift may also use it.

Padmini Gupta
Padmini Gupta
Co-founder and CEO

“We are delighted to launch Xare as part of our ongoing efforts to revolutionize financial services to provide a myriad of options and solutions to those that have historically been ignored by traditional banks. Through Xare, we are aiming to empower the expatriate workers across the GCC and individuals globally who will significantly benefit from rise’s latest pioneering solution. We believe that people everywhere deserve a fairer banking experience, and who better to give it to them than those that know them best – their friends and families.”

It takes less than 30 seconds to register and needs only a valid phone number. To share their card, users only need to pick a contact from their phone and can set regular or monthly limits, and even expiry dates. The innovative safety scheme of the app ensures that card information is never used by the user and are not centrally stored by Xare, so they cannot be hacked or manipulated. When issued with a Xare card, recipients can use their card to buy more than two billion items globally through thousands of shops.

Milind Singh, Co-founder, Rise, commented: “We firmly believe that Xare has the potential to make banking fairer and more humane, and we cannot wait to share our innovative solution with those that can most benefit from it. We are currently in the beta phase of development and are testing the product’s functionality with a few thousand users to enable us to fine-tune the app’s technology and service before unleashing Xare on to the masses. The launch of Xare represents an incredibly exciting time for the financial services sector globally.”

Users can join the waiting list via the Google Play Store to download the Xare download. By mid-November, the app will be available to everyone and everywhere.


Rise is a Dubai-based fintech startup whose stated mission is to democratize access to essential financial services for the modest-income migrant population in the GCC.