Leading global payments company WorldRemit has officially launched its money transfer service to Lebanon.
The fintech, which is headquartered in London, enables users to transfer money digitally, through its mobile app and its website. By adding the Cash Plus brand to its network, recipients of money transfers in Lebanon will be able to collect their payments from over 140 Cash Plus outlets across the country.
WorldRemit customers will now be able to send money to Lebanon from several countries worldwide, including the US, UK, France, Germany, Canada and Australia, via the WorldRemit app or website.
Sharon Kinyanjui, Director EMEA (Receive) at WorldRemit, commented: “We’re delighted to officially launch our money transfer service to Lebanon with Cash Plus, a reputable brand and cash pick up network. As Lebanon recovers from multiple crises, we are acutely aware of the importance of being able to send support to loved ones through a fast, safe and convenient platform.”
According to the World Bank’s Lebanon Economic Monitor, Lebanon’s socio-economic crises are among the most severe witnessed by a country since the mid-19th century. Estimates suggest that GDP has fallen by approximately 40% since 2020 with a further projected contraction of 9.5% this year[1].
With close to 60% of the population living below the poverty line, money transfers from the Lebanese diaspora which amount to over $6 billion per annum, are proving to be a crucial means of support to households.
Taleb Shams, CEO at Cash Plus, said: “We’re so pleased to welcome WorldRemit into our network as it is a company that shares our values and commitment to serving the Lebanese people. Customers can now send money through the WorldRemit app or website directly to Cash Plus for cash payout through any of our branches.
“For the last 5 years, we have been serving the Lebanese population. Through this partnership with WorldRemit, we aim to become the international money transfer service of choice for the 18 million members of the Lebanese diaspora across the world.”
For more details, visit: www.worldremit.com