Paysend partners with Purpl to extend money transfers to Lebanon

By Leandra Monteiro

Paysend, a UK-based FinTech with over 7 million customers, announced a commercial partnership with Purpl, a Lebanese remittance and cash-out platform, enabling almost 20 million Lebanese around the world to send money to their loved ones back home.

Features such as low fixed fees on money transfers, competitive exchange rates, and the ability to receive instant international payments will change how communities in Lebanon manage their money internationally.

As more and more people around the world require fast, cheap and reliable services to help them send funds, Paysend continues to expand the reach of its network and the number of countries that its customers can send money to, in order to help them to stay connected and transfer money to their friends, family, and loved ones.

“We know that today the majority of Lebanese consumers’ financial lifelines are the remittances they receive from their loved ones abroad, yet the costs of these remittances keep on increasing and the user experience keeps on deteriorating. We’re delighted to partner with Paysend, both providing broadscale global reach, instant transfers, and costs that are materially lower than we currently see,” said Karl Naïm, co-founder and CEO at Purpl.

Alex Budyakov, Head of Enterprise and Network Partnerships at Paysend, said, “We’re excited to be partnering with an organization like Purpl whose objectives around financial inclusion and bringing money transfer services to those that need them most are so aligned to Paysend’s ambitions. Through this partnership Lebanese people all over the world will be able to connect and support their family, friends and loved ones through quicker, more affordable and more secure money transfers.”