Purpl has duly obtained its digital wallet licence.

Purpl, a remittance and cash out aggregator, has announced its successful launch on Mambu’s cloud-native banking platform. This new offering provides Lebanese citizens, both domestically and abroad, with seamless ways of transacting.

The company’s digital wallet will allow users to cash out stored money in hard currency, pay for purchases, transfer funds, or make online transactions from any mobile device. (CROWD FUND INSIDER) Leveraging Mambu’s software-as-a-service-based technology, Purpl can add new functionalities and enhance existing features of its digital wallet to suit evolving customer needs.

Purpl is one of the first fintechs in the region to benefit from the global partnership between Mambu and Amazon Web Services (AWS). This tie-up enables banks and financial institutions to operate from the cloud and offer a secure, modern infrastructure with lower operating costs and increased flexibility.

Purpl is powered by Mambu and utilizes AWS native services like EKS, RDS, Elasticache, Lambda, which made it possible to deploy the cloud-based digital wallet in just six months.

The market for digital wallets is expected to boom, with the number of users expected to exceed 4.4 billion by 2025.

Purpl’s collaboration with Mambu will enable more people to access essential financial services and bridge the gap for the financially excluded population in the region.

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