Mastercard partners with Credit Libanais to launch inbound cross-border payments across Lebanon

Mastercard partners with Credit Libanais to launch inbound cross-border payments across Lebanon

Lebanon – Mastercard has partnered with Credit Libanais to enable the acceptance of inbound cross-border payments through direct bank deposits. The collaboration is a first in the country as it modernizes remittances and allows account holders to receive funds swiftly and securely.

Through this partnership, Mastercard’s technology will enable Credit Libanais to deliver a better experience for their clients by simplifying and optimizing the process of cross-border payments. The advanced solution will allow for the transfer of US dollars to the bank’s clients by leveraging its global network and processing digital payments through a single connection.

According to the World Bank, Lebanon received $6.6 billion in remittances in 2021, one of the highest levels in the Middle East and North Africa.

Cynthia El Khoury, Country Business Development Lead, Levant, and Iraq at Mastercard said: “Mastercard Cross Border Services connects families and friends from all over the world; it empowers communities and broadens access to financial resources. Through this partnership with Credit Lebanais, consumers will now be able to send money to their family and friends with increased convenience and peace of mind. As a trusted technology partner, Mastercard is committed to empowering consumers to connect to the digital economy in simpler and more