Lebanon, with its strategic geopolitical position at the crossroads of three continents, continues to face significant economic challenges. Despite a modest recovery in 2024, the economy remains under considerable stress. Key sectors like tourism and remittances, which accounted for 38% of GDP in 2022, are in decline. Exports, particularly food and beverages to Syria, suffer from regional instability and production limitations, while inflation remains alarmingly high due to rising import costs, currency depreciation, and ineffective monetary policies.

On the payment front, the introduction of contactless technology is driving the adoption of electronic payments, especially for low-value transactions. Major banks, including Bank Audi, Bank of Beirut, and BLOM Bank, have introduced contactless cards, and global schemes such as Visa and Mastercard have made their payWave and PayPass technologies available in Lebanon. Furthermore, biometric features are being incorporated into payment cards, enhancing both security and convenience for users.