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Mastercard has partnered with Lebanese bank Credit Libanais to enable cross-border inbound payments via direct bank deposit.
Applications for Mastercard’s cross-border services aim to optimize the international payment process for bank customers.
This solution allows you to send US dollars to bank customers through Mastercard’s network. Similarly, the solution handles digital payments over a single connection.
This kind of collaboration marks an exciting tipping point in Lebanon’s digital transformation. The West Asian country continues to pioneer the future of account ownership and strong digital financial capabilities.
Lebanon received $6.6 billion in remittances, while promoting the modernization of remittance processes. 2021one of the highest in the region.
mastercard Cynthia El Kowry The partnership will allow consumers to send money to relatives, which it says is “increasing convenience.”
Mastercard Cross Border Services connects families and friends around the world, continues El Khoury. Empowering communities and broadening access to financial resources.
She reaffirms Mastercard’s commitment to enabling consumers to connect to the digital economy.
Credit Libanais has plans to further expand support for similar cross-border payments credited to customers of other Lebanese-based banks.
Landa BudeirDeputy GM and Head of Electronic Payments at Credit Libanais.
Bdeir continues. , an affordable, safe and convenient experience.
Switching payments to digital lowers costs and increases the velocity of money in the economy, which translates directly into GDP growth, she adds.
Mastercard’s cross-border services allow individuals and businesses to send and receive money internationally. Combined with Mastercard’s Multipayment Rail, the service connects customers, merchants and government officials within the digital payments ecosystem.
