Empowch: Revolutionizing Cross-Border Payments for the Lebanese Around the World
July 23, 2023
In recent years, Lebanon has faced immense economic challenges, leading to a collapse of the banking system and leaving almost 90% of its population unbanked. For the Lebanese diaspora living abroad, sending money back home has become a daunting task, with high remittance costs and slow transfer times being the norm.
However, there’s a glimmer of hope on the horizon – Empowch, a revolutionary mobile payments platform is here to change the game. In this blog, we’ll explore the challenges faced by those sending money to Lebanon and how Empowch provides a solution that makes a real difference.
The Struggles of Sending Money to Lebanon.
For years, the Lebanese diaspora has relied on traditional remittance services like Western Union to send money to their loved ones back home. However, the process has been far from smooth. High transaction fees have eaten into the value of remittances, and lengthy processing times have caused financial stress and delays for both senders and recipients.
Adding to the woes, the collapse of the currency in Lebanon has meant that every dollar counts. Losing even $25 in remittance costs can have a significant impact on the receiving family’s financial stability. As the Lebanese economy struggles, the need for a reliable, affordable, and swift remittance solution has never been more critical.
Empowch: Empowering the Lebanese Diaspora.
Enter Empowch – a mobile payments platform specifically designed to cater to the needs of the Lebanese diaspora and the global unbanked. Empowch leverages the latest and safest technology to facilitate cross-border and peer-to-peer payments instantly and securely, all at a fraction of the traditional costs.
The Advantages of Empowch.
- Affordability: With Empowch, there are no exorbitant fees eating into your hard-earned money. For those sending up to $300 per month, remittances are entirely free. This means that more of your money reaches your family and friends, helping them navigate the challenging economic climate in Lebanon.
- Speed and Efficiency: Empowch takes pride in providing instantaneous transactions. Say goodbye to waiting for days or even weeks for your money to reach its destination. With Empowch, your loved ones can access the funds they need right when they need them the most.
- Financial Inclusion: Empowch aims to bring financial inclusion to Lebanon, especially to the unbanked population. By providing an accessible, easy to use and user-friendly platform, Empowch empowers more individuals to participate in the digital economy and enjoy the benefits of secure and seamless money transfers.
- Empowch Pay-out Network: A first of its kind groundbreaking feature of Empowch is its pay-out network, allowing recipients to cash out funds within Lebanon itself in physical fiat cash. This innovative approach ensures that recipients can conveniently access their money in cash, so no bank account is even needed.
Empowch is a pioneer in cross-border payments for the Lebanese diaspora, offering a lifeline to those struggling with the challenges of sending money back home. Empowch has made affordable, instant, and secure remittances a reality. By utilizing this revolutionary service, you not only save money on transfer costs but also contribute to the financial stability and wellbeing of your loved ones in Lebanon.
Get your Empowch Wallet now and start sending money to loved ones back in Lebanon, from anywhere in the USA, EU & UK. Together, let’s build a stronger and more connected Lebanese community, bridging the gap between borders and supporting one another through these challenging times. Empower your remittances with Empowch today!