Whish Money has partnered with Mastercard to facilitate inbound and outbound remittance flows for consumers in Lebanon.
The collaboration allows people in Lebanon to transfer money abroad to more than 50 countries, while Lebanese living overseas can send money home.
The partnership uses Mastercard Move’s cross-border payment solutions and network of operators to support faster and more secure transfers.
Whish Money customers in Lebanon can now send funds through the Whish Money mobile application to over 50 countries in near real time.
Depending on the receiving market, beneficiaries can collect funds via bank accounts, mobile wallets or cash.
Lebanese users can also fund their Whish Money wallets with cards in addition to cash.
This marks Mastercard’s first collaboration with a mobile wallet in Lebanon for remittance services.
“Many people in Lebanon rely on remittances from their family members abroad to meet their basic needs. In this challenging economic situation, international money transfer services provide a vital inflow of foreign currency into Lebanon. Thanks to Mastercard Move, we can now offer fast, efficient and secure remittances to Lebanese people,”
said Toufic Koussa, Co-founder and CEO of Whish Money.
“Our collaboration will give Whish Money the reach, transparency and speed needed to scale its cross-border business and address consumer demand for sending and receiving funds internationally. Meanwhile, it will enable us to expand our payment network and introduce market firsts for inbound and outbound money transfers in Lebanon,”
said Onur Kursun, Executive Vice President, Commercial and New Payment Flows, EEMEA, Mastercard.
Featured image credit: Whish Money
