The Banking Executive Magazine - May 2024 Issue

Wink Pay App Launches! Wink Pay App Launches! THE FIRST SERVICE ON THE WINK NEO PLATFORM, LEBANON’S FIRST DIGITAL BANK Credit Libanais has launched "Wink Pay," a new digital payment wallet in Lebanon, in collaboration with Codebase Technologies and Visa, the global leader in digital payments. Through the Wink Pay app, Credit Libanais introduces for the first time in the country digital onboarding and instant card issuance services. This advanced service offers six million Lebanese citizens the ability to man- age their local and international pay- ments securely and transparently without needing a bank account. Wink Pay provides a unique user ex- perience via its mobile application by offering citizens the best solutions to access financial services. It en- ables them to instantly issue a pre- loaded virtual Visa card (Virtual Visa Card) and enjoy a seamless, secure, and paperless payment experience. This application is distinguished by a fully digital onboarding process, fea- turing electronic customer verifica- tion (e-KYC), to meet the customers' needs for a reliable digital experi- ence. It also includes value-added features such as card management and payment tools that allow users to locate nearby card-loading agents and customize their cards by select- ing their color directly from the app. Wink Pay also prominently features innovative services like Wink Trans- fer, which enables users to easily transfer money from their card to any other global card, a bank account in Lebanon or abroad, or any local or international digital wallet. The flex- ibility of Wink Transfer not only sim- plifies person-to-person transactions but also expands the scope of finan- cial interactions. Sharing the vision behind Wink Pay, Mrs. Randa Bdeir, Deputy General Manager and Head of Electronic Payment Solutions and Card Tech- nology at Credit Libanais, stated: “In the wake of the economic challenges Lebanon faces and the significant rise in the number of unbanked individ- uals, alongside the increased re- liance of the Lebanese economy on external remittances, Credit Libanais recognizes the need to adapt to this changing financial landscape and re- spond to the needs of Lebanese citi- zens by providing them with the opportunity to instantly obtain a pre- loaded virtual Visa card to conduct their local and international pur- chases and transfers without restric- tions. Through this initiative, Credit Libanais aims to contribute to en- hancing financial inclusion in the country.” Mrs. Bdeir added: “Wink Pay sym- bolizes our commitment to innova- tion and flexibility, inspired by the global success story of Revolut, offer- the BANKING EXECUTIVE 14 ISSUE 185 MAY 2024