Your uncle lives abroad in order to make money to send back to family back in Lebanon. Regardless of the channel through which he sends the money (whether it’s a remittance service, digital wallet, or bringing the cashback in person), this money transfer is called remittance.
Purpl aims to become the partner of choice for the yearly $7BN remittances coming into Lebanon and enable financial inclusion.
Purpl was made for Lebanon, to reconnect the diaspora population with their home country by facilitating remittance payments, lowering remittance costs, and enabling financial inclusion. Purpl aims to become the first remittance and cash out aggregator to facilitate cross-border payments into – and eventually out of – Lebanon and enable its customers to make use of Purpl digital wallet to transact at Purpl merchants’ network.
Lebanon is the Arab country with the longest history of emigration accompanied by a history of remittances. It is almost a fact that every Lebanese household has been touched by emigration, whether a family member or a friend. According to Eliane Fersan, the earliest example of modern Lebanese migration date to the 1850s when Anthonius al-Bashalani set foot in America. Ever since both emigration and remittances shaped Lebanon.
The growth of digital payments and digital money transfers shows no signs of slowing in 2022, owing to people’s increasing preference for digital tools and services for sending money overseas.
Remittances have been constantly evolving throughout centuries. In this post, we aim to shed some light on the evolution of remittances from the Hawala system to digital remittances and the 4 reasons why they are important in today’s globally connected world.
One-third of Humanity relies on remittances. It is estimated that 1 billion immigrants worldwide help their families by sending money back home. On average, each migrant who sends money back home in the form of remittances supports three individuals, as
Lebanon might be a tiny country with just over 5M population, yet it boasts one of the biggest diaspora population with 15M+ Lebanese living all over the world. Lebanon ranks among the world top 25 inward remittance countries Cost of
