Latest news with #CreditLibanais
Web Release
3 days ago
- Business
- Web Release
Screenshot 2025-06-18 105747
Credit Libanais launches 'Mastercard Send' for the first time in Lebanon, as a part of the Mastercard Move; the international money transfer platform of Mastercard
Web Release
3 days ago
- Business
- Web Release
Credit Libanais launches 'Mastercard Send' for the first time in Lebanon, as a part of the Mastercard Move; the international money transfer platform of Mastercard
Credit Libanais launches 'Mastercard Send' for the first time in Lebanon, as a part of the Mastercard Move; the international money transfer platform of Mastercard Credit Libanais Bank announced the launch of the 'Mastercard Send' service for the first time in Lebanon, under the umbrella of 'Mastercard Move'—Mastercard's global platform for international money transfers. This represents a strategic step towards strengthening financial inclusion and expanding access to fast, secure transfer solutions. The service is now available through the 'Wink Neo' Digital bank, developed by Credit Libanais, where 'Wink Neo' serves as a back office infrastructure for all digital wallets in the market, enabling the connection of local wallets to global payment networks and improving the experience of sending and receiving money locally and internationally. In this context, 'Wink Neo' plays a pivotal role as an advanced technological platform that allows other institutions and e-wallets to offer sophisticated financial services without building their own systems. Wink Neo acts as a ready-to-integrate back-office solution supporting any digital wallet seeking to enable send and receive capabilities with speed, safety, and low cost. By integrating with 'MasterCard Send', users in Lebanon can now: Fund their wallets from any local or international cards through Account Funding Transactions (AFT) from any local or international cards through Send money instantly to any card or account, locally or internationally using Original Credit Transfer (OCT) This enhances the flexibility of money transfers and reduces reliance on traditional, costly, and slow methods. Ms. Randa Bdeir, Deputy General Manager and Head of Electronic Payment Solutions and Card Technologies at Credit Libanais Bank, stated: 'The MasterCard Send service offers our clients a modern and secure alternative to traditional transfer methods, thanks to its global reach and competitive cost, making it an effective tool to advance financial inclusion in Lebanon.' She added: 'In a country like Lebanon, which heavily depends on money transfers and remittances to support its economy, services like 'MasterCard Send' play a vital role. They empower individuals across different segments of society by: * Enabling Lebanese students abroad to receive money transfers from their families instantly and at low cost. * Allowing Lebanese expatriates working abroad to send money to their families through this service using cards—quickly, efficiently, and with minimal fees. * And finally, enabling foreign workers in Lebanon to use this service to send money back to their home countries instantly and affordably.' Mr. Mohamed Assem, Mastercard's Regional Manager for Egypt, Lebanon, and Iraq, stated: 'This collaboration falls in line with our strategy to enhance financial inclusion in Lebanon. By combining Credit Libanais Bank's deep local market expertise with MasterCard's global leadership in payment solutions, we are empowering individuals to engage with the global economy, support digital inclusion, and drive economic growth.'
