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Whish Money Gains Canadian Licenses In Global Expansion Push
The Lebanese fintech takes its first step beyond the MENA region with regulated entry into North America.
Lebanon’s Whish Money has been granted financial services licenses in Canada, its first regulatory approval outside the MENA region and the opening move in a wider expansion plan. The fintech is now seeking licenses in the US, UK, EU, and Australia, aiming to build fully regulated operations in each market rather than rely on agent networks or third-party partners.
The company said the Canadian approval gives it a regulated base for North America and confirms its strategy of direct, in-country licensing — a model it says ensures control over customer experience, compliance, and security. The approach contrasts with many regional money transfer operators that operate under lighter agent models or partner licenses.
“Securing our Canadian license is a monumental step that validates our compliant, customer-focused model and sets the foundation for our international expansion,” explained Toufic Koussa, chairman of the board at Whish Money. “This move is about more than just entering a new market; it’s about strategically connecting high-diaspora communities with reliable financial infrastructure, beginning with North America. We are committed to building a regulated, transparent global ecosystem that truly serves our users”.
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Whish Money, headquartered in Beirut and regulated by the Central Bank of Lebanon, came to prominence during Lebanon’s financial collapse, providing digital payroll, transfer, and bill-payment tools when banks were paralyzed. It now counts more than 1.5 million users and operates through over 1,200 agents in Lebanon and 3,000 points of sale in the UAE, according to company figures.
The firm’s network includes partners such as Visa, Mastercard, Ria, and Terrapay, strengthening its cross-border payment system. With the Canadian licenses secured, Whish Money is positioning itself to shift from a regional payments player to a regulated global platform linking diaspora markets worldwide — a move that underlines the growing push by MENA fintechs to formalize their reach into mature, highly regulated markets.
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Lebanon Ministers Meet Visa Over National Digital Payment Platform
Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.
Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.
The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.
The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.
Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.
Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.
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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.
“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.
Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.
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