Lebanese FinTech Purpl launches digital wallet on Mambu

By Gloria Methri

Purpl, the remittance and cash-out aggregator, is now live on Mambu’s cloud-native banking platform. Having secured its digital wallet license, Purpl’s new offering will provide Lebanese citizens at home and abroad with seamless ways of transacting.

Purpl’s collaboration with Mambu first began in June 2022, and the implementation took six months. Customers can now easily access stored money to cash out in hard currency and will soon be able to pay for goods and services, transfer funds or make online purchases from any mobile device.

Leveraging Mambu’s software-as-a-service (SaaS)-based and API-enabled technology, Purpl can add new functionalities and enhance existing features of its digital wallet to suit evolving customer needs.

Jean-Marie Khoueir, Co-founder and COO at Purpl said, “Digital wallets provide a form of electronic money to those who otherwise cannot access traditional bank accounts, which is now the case of more than 80% of the Lebanese population. Underlying all this is a convenience factor and a more efficient and transparent user experience. Mambu enables us to live and breathe the digital- and customer-first model, ensuring that a broader range of users has access to essential financial services.”

Purpl is powered by Mambu and leverages Amazon Web Services (AWS) native services like EKS, RDS, Elasticache, Lambda, which enabled the deployment of the cloud-based digital wallet in just six months. Purpl is one of the first FinTechs in the region to benefit from the global partnership between Mambu and AWS.

Charlotte Sanderson, Head of Global Technology FSI Partnerships at AWS said, “In our decade-long partnership with Mambu we have focused on providing innovative solutions, solving technical challenges, and delivering value to mutual customers. Purpl is a prime example of how this collaboration can change the way financial services are delivered around the world. They have the scale and efficiency needed to make an impact in the region.”

Miljan Stamenkovic, GM Middle East & Africa at Mambu added, “We sit at the heart of many neobanks and digital challengers in the Middle East as they scale their businesses and adopt the cloud. Our partnership with Purpl is no different. In the past half year, we went on a journey with them as they sought their digital wallet license. This quick launch is a testament to all team’s efforts, as well as the strong demand in the market that Purpl is here to serve.”