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Paycards: Salaries to unbanked beneficiaries

22/01/2024
Paycards: Salaries to unbanked beneficiaries

In a significant move to enhance financial operations for businesses, merchants, and corporations, Bank of Beirut has unveiled a comprehensive suite of digital banking services. These services are designed to facilitate seamless electronic payments and collections, providing a streamlined experience for all business-related financial transactions.

 

One of the standout offerings in this digital suite is the Bank of Beirut Business PayCard. This innovative solution allows companies to electronically pay wages and salaries to beneficiaries who do not have traditional bank accounts. Beneficiaries can access their funds through cash withdrawals at ATMs and via a vast network of over 850 BoB Finance locations across Lebanon.

 

This new initiative by Bank of Beirut aims to simplify financial management for businesses, ensuring that even unbanked employees can receive their payments efficiently and securely. By leveraging these digital tools, businesses can enhance their operational efficiency, reduce reliance on cash, and contribute to the broader adoption of electronic banking in Lebanon's evolving financial landscape.

 

Bank of Beirut – List of Banks: 75 | Online banking services licensed by virtue of BDL letter number 11/629 dated October 2, 2008  |  2020 Bank of Beirut s.a.l. all rights reserved

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