Purpl launches digital wallet on Mambu

Purpl launches digital wallet on Mambu

Purpl, a remittance and cash-out aggregator, has announced its successful go-live on Mambu’s cloud-native banking platform. Having secured its digital wallet licence, Purpl’s new offering will provide Lebanese citizens at home and abroad with seamless ways of transacting.

Purpl began its collaboration with Mambu in June 2022 and the implementation took six months. Customers can now easily access stored money to cash-out in hard currency and will soon be able to pay for goods and services, transfer funds or make online purchases from any mobile device.

The appetite for digital wallets is expected to surge with the number of users to surpass 4.4 billion by 2025. Leveraging Mambu’s Software-as-a-Service-based and API-enabled technology, Purpl can add new functionalities and enhance existing features of its digital wallet to suit evolving customer needs.

“We are operating in a region with a large number of financially-excluded people and we exist to bridge this gap,” said Jean-Marie Khoueir, Co-founder and COO at Purpl.

“Digital wallets provide a form of electronic money to those who otherwise cannot access traditional bank accounts – which is now the case for more than 80% of the Lebanese population. Underlying all this is a convenience factor and a more efficient and transparent user experience. Mambu enables us to live and breathe the digital- and customer-first model, ensuring that a broader range of users have access to essential financial services.”

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