Paysend taps Purpl to launch in Lebanon

UK-based FinTech, Paysend, has entered a commercial partnership with Lebanese remittance and cash-out platform, Purpl, to enable nearly 20 million Lebanese people across the world to send money to their loved ones. The features offered by the platform, such as low fixed fees on money transfers, competitive exchange rates, and the ability to receive instant international payments, will alter how communities in Lebanon handle their international finances.

Paysend’s network and number of countries that its customers can send money to are being expanded to cater to the increasing demand for quick, inexpensive, and reliable services that can assist people in sending funds worldwide, as more people require such services.

Purpl’s CEO, Karl Naïm, stated that remittances are the primary financial lifelines for many Lebanese consumers, but their costs continue to rise and user experiences are diminishing. Paysend’s partnership provides Purpl with a broadscale global reach, instant transfers, and materially lower costs, he added.

Paysend’s Head of Enterprise and Network Partnerships, Alex Budyakov, also expressed excitement about the partnership, saying that Paysend’s aspirations for financial inclusion and delivering money transfer services to those who need them the most are in line with Purpl’s objectives.