Whish Money Partners With Mastercard For Cross Border Payments

Whish Money, Lebanon’s leading e-wallet and personal finance app, has partnered with Mastercard to unlock faster inbound and outbound remittances for consumers across the country. The tie-up taps into Mastercard Move, the company’s global money movement network, to allow users in Lebanon to send funds to more than 50 countries — and for Lebanese abroad to send money home in near real time.

Through the Whish Money mobile app, users can now make cost-effective transfers to a wide range of destinations. Depending on the recipient’s market, senders can choose how funds are delivered: directly into bank accounts, mobile wallets, or collected as cash. Customers can also fund their Whish Money wallets with cards as well as cash, expanding convenience for everyday users. This marks Mastercard’s first collaboration with a mobile wallet in Lebanon to facilitate remittances.

“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.

Onur Kursun, Executive Vice President of Commercial and New Payment Flows, EEMEA at Mastercard, added: “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. We look forward to working together to improve the lives of Lebanese people and address their everyday needs”.

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According to World Bank estimates, Lebanon was the third-largest recipient of remittances in the MENA region in 2022, receiving around US$6.4 billion. Only Egypt (US$28.3 billion) and Morocco (US$11.2 billion) recorded larger inflows. For Lebanese residents, remittances are both a lifeline and a source of foreign currency, meaning the Whish Mastercard collaboration could soon prove to be transformative.