Lebanese fintech Whish Money has entered a strategic collaboration with Mastercard, enabling consumers in Lebanon to send and receive money seamlessly across more than 50 countries.
The deal marks Mastercard’s first partnership with a mobile wallet in Lebanon for remittance services, positioning Whish Money as a key player in bridging financial gaps in a country heavily reliant on cross-border transfers.
Remittances remain a critical economic pillar for Lebanon, where a prolonged financial crisis has eroded banking trust and driven millions to seek alternatives. According to the World Bank, Lebanon ranked third in the MENA region for remittance inflows in 2022, with $6.4 billion sent home, behind only Egypt ($28.3 billion) and Morocco ($11.2 billion).
“This partnership could not come at a more critical time,” said a Beirut-based financial analyst. “As traditional banking channels remain constrained, mobile wallets backed by global players like Mastercard provide Lebanese citizens with faster, safer, and more affordable ways to access funds.”
Through the Whish Money mobile app, users in Lebanon can now send funds abroad almost in real time. Depending on the receiving country, beneficiaries may collect money via bank transfers, mobile wallets, or cash pickups. Senders also have new flexibility to fund their Whish Money wallets using cards in addition to cash — a step forward in digitizing Lebanon’s cash-heavy economy.
The collaboration is powered by Mastercard Move, the company’s global portfolio of money movement solutions that spans 200 markets, 150 currencies, and covers 95% of the world’s banked population. For Mastercard, Lebanon’s remittance-heavy economy provides a testing ground for expanding payment innovation in frontier markets.
Onur Kursun, Executive Vice President, Commercial and New Payment Flows, EEMEA at Mastercard, highlighted the dual benefits:
“Our collaboration will give Whish Money the reach, transparency and speed needed to scale its cross-border business and address consumer demand for sending and receiving funds internationally. Meanwhile, it will enable us to expand our payment network and introduce market firsts for inbound and outbound money transfers in Lebanon.”
By forging additional partnerships with international fintech and banking institutions, Whish Money can diversify its services beyond remittances, with digital lending and merchant solutions may roll out over the coming years. Such a move would elevate its standing as one of Lebanon’s few fintech companies pursuing regional growth.
The partnership reflects a broader fintech trend in the Middle East, where mobile-first solutions are increasingly filling gaps left by struggling traditional banks. In Lebanon’s case, the stakes are higher: with unemployment soaring and foreign currency access limited, remittances serve as both a social safety net and a macro-economic stabilizer.
