- Global payments company expands with Cash Plus to mark entry into Lebanon
- Customers will be able to send money to Lebanon from countries including France, Canada, the UK, Germany, Australia, and the US
- Lebanese recipients will be able to collect money transfers from 140 Cash Plus outlets countrywide
Beirut, Lebanon – November 2021 – 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
About WorldRemit
We’re a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global payments brands.
We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower-cost. We currently send from 50 countries to recipients in 130 countries, operate in more than 5,000 money transfer corridors worldwide and employ over 1,200 people globally.
On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.
Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, the Philippines, Belgium, and others.
[1] World Bank’s Lebanon Economic Monitor, Pg 27. 2021.