Mastercard has partnered with Credit Libanais to allow the acceptance of inbound cross-border payments through direct bank deposits. This partnership is the first of its kind in Lebanon as it allows account holders to receive funds in a swift and secure manner. The solution in question will allow for the transfer of US Dollars from many institutions in more than 12 countries to the bank’s clients through a single connection. According to Mastercard’s Country Business Development Lead for the Levant & Iraq region Mrs. Cynthia El Khoury, the purpose of the partnership with Credit Libanais is to provide a secure platform that Lebanese from across the globe can leverage upon and can use to assist their families at ease”. According to the Head of the E-Payment Solutions & Cards Technology at Credit Libanais, Mrs. Randa Bdeir, the partnership with Mastercard “comes at a time of a growing need of Cross-Border payment services in Lebanon”, commenting that switching from cash to digital payments lowers the cost of transactions and increases the velocity of money in the economy which in turn accelerates GDP growth.”