Purpl is the first remittance and cash-out aggregator and API-layered platform for the Levant region allowing for ATM network integration and cardless withdrawal, combined with a digital wallet in Lebanon.
Purpl will first focus on the Lebanese market that is the most in need of such a solution given the collapse of the banking sector, high cost and inefficiencies of the current remittance network.
The fintech recognised the need for an ecosystem designed to leverage new technologies. Mambu’s cloud platform will underpin the fintech’s offering as it evolves products and services based on customer needs.
Through the app and Purpl’s remittance partners, users can send and receive money in Lebanon, triggering an SMS alerting beneficiaries of incoming funds. Users then follow a simple sign-up flow, which includes a one-time e-KYC process, before cashing out at a number of locations throughout the country.
The startup has plans to expand its partner network to over 800 cash-out points, including 190 ATMs in Lebanon.