Whish Money Partners with Mastercard to Simplify Cross-Border Payments for Lebanese

TDT | Manama

Email : editor@newsofbahrain.com

Whish Money has joined forces with Mastercard to make sending and receiving money easier for people in Lebanon. The partnership allows users in Lebanon to send money to over 50 countries, while Lebanese living abroad can send money back home quickly and securely.

The collaboration uses Mastercard Move’s global network and money transfer solutions to provide near real-time transfers through the Whish Money mobile app. Depending on the destination, recipients can receive funds directly into their bank accounts, mobile wallets, or as cash. Lebanese users can now also fund their Whish Money wallets using cards, in addition to cash payments. This is Mastercard’s first partnership with a mobile wallet in Lebanon for remittances.

“Many families in Lebanon rely on money sent by relatives abroad to meet daily needs,” said Toufic Koussa, Co-founder and CEO of Whish Money. “In these challenging times, fast and secure international money transfers are a lifeline for millions of Lebanese.”

Onur Kursun, Executive Vice President at Mastercard, added: “Our partnership with Whish Money will improve speed, transparency, and reach for cross-border payments. We are excited to bring innovative solutions to Lebanon and support people in sending and receiving funds efficiently.”

Remittances play a crucial role in Lebanon’s economy. According to the World Bank, Lebanon received an estimated $6.4 billion in remittances in 2022, ranking third in the MENA region after Egypt and Morocco.

Mastercard Move enables fast and secure money transfers both domestically and internationally, covering 200 markets and over 150 currencies, reaching more than 95% of the world’s banked population.