Lebanese fintech Purpl partners Mambu to scale operations

Lebanese digital wallet, cash-out aggregator and remittances firm Purpl has partnered with banking tech vendor Mambu as it looks to scale its operations in the region.

Purpl taps Mambu as it looks to scale

Purpl says Mambu’s cloud platform will underpin its offering as it develops new products and services based on customer needs.

The fintech, which is Lebanon’s first digital wallet for remittances and cardless ATM withdrawals in US dollars, has plans to expand its partner network to more than 800 cash-out points, including 190 ATMs in Lebanon.

The partnership will enable Purpl to offer money transfers for 20 million Lebanese customers both at home and abroad.

The company also plans to launch a stored value wallet product which will support e-commerce payments via QR codes at point of sale (POS).

Purpl chief operating officer (COO) and co-founder Jean-Marie Khoueir says Mambu’s suite of core banking solutions is “the right fit” for the company as it looks to support more unbanked and underserved customers in Lebanon and across the Levant region.

Mambu general manager of MENA, Miljan Stamenkovic, adds: “Neobanks and fintechs are looking for solutions to close that gap where access to finance lags.

“Digital wallets have flexible technical capabilities and lower costs of service. This makes them the logical solution for a more inclusive financial future.”