Purpl, a Lebanese remittance and cash out aggregator, announced that it has gone live on Mambu’s cloud-native banking platform to launch its digital wallet offering.

Having secured its digital wallet license, Purpl was able to deploy the digital wallet powered by Mambu in just six months through a partnership with Amazon Web Services (AWS) for its native services like EKS, RDS, Elasticache, Lambda.

Leveraging Mambu’s software-as-a-service (SaaS)-based and API-enabled technology, Purpl can add new functionalities and enhance existing features of its digital wallet to suit evolving customer needs.

Purpl said in a statement that customers can now easily access stored money to cash out in hard currency and will soon be able to pay for goods and services, transfer funds or make online purchases from any mobile device.

The appetite for digital wallets is expected to surge with the number of users to surpass 4.4 billion by 2025.

Jean-Marie Khoueir, Co-founder and COO at Purpl said,

“Digital wallets provide a form of electronic money to those who otherwise cannot access traditional bank accounts, which is now the case of more than 80% of the Lebanese population. Mambu enables us to live and breathe the digital- and customer-first model, ensuring that a broader range of users have access to essential financial services.”

Miljan Stamenkovic, GM for Middle East & Africa at Mambu said,

“In the past half year, we went on the journey with them as they sought their digital wallet license. This quick launch is a testament to all team’s efforts, as well as the strong demand in the market that Purpl is here to serve.”

Featured image credit: Miljan Stamenkovic, GM for Middle East & Africa at Mambu and Jean-Marie Khoueir, Co-founder and COO at Purpl. Edited from Freepik