In line with the bank’s digitization acceleration strategy, and its policy to keep its
positioning taking into consideration the market developments, Credit Libanais has
launched a series of electronic solutions for the first time in Lebanon that facilitates
consumers’ spending by issuing the “VISA RED SPARK” card and ensuring its
acceptance on POS machines and through the internet payment gateway, by implementing
a new software “PAY XPRESS”. This new card will enhance our clients and merchants
to reduce their reliance on Cash banknotes, providing the merchants with the ability
to withdraw their funds from the bank in cash.
“VISA RED SPARK” is a debit card in Fresh Lebanese Pounds; the first of its kind in
Lebanon, linked to a fresh money account in LBP and entitles its holder to use it on ATMs
for cash withdrawals without ceilings. It can be additionally used upon purchasing on POS
devices or through websites of the merchants enrolled in the “PAY XPRESS” service. This
payment solution will allow the merchants to withdraw the proceeds of the
transactions processed via the Visa Red Spark card in LBP banknotes and without
withdrawal limits.
For this occasion, Mrs. Randa Bdeir, Deputy General Manager and Head of Electronic
Payment Solutions and Card Technology at Credit Libanais, declared: “We have set
a strategy to initiate several electronic payment solutions towards digital economy by
encouraging merchants to adopt electronic payment methods (POS, Online payment
gateway) and clients to resume their reliance on effective card payments. These electronic
solutions will help to stimulate the merchants to work and exchange by electronic means
instead of limiting the payment methods to cash only, which will reflect positively on the
digitization journey of the Lebanese economy.”
Mrs. Bdeir concluded that: “The issuance of the Visa Red Spark card in Fresh Lebanese
pounds will encourage merchants to accept this card as a method of payment, and thus
encourage citizens to seek this payment method and get the card that will solve their
banknotes spending challenges.”