MCB Lite (pass-it-on); a digitally powered mobile wallet by MCB Bank has received ‘The Most Innovative Product Award’ at the 12th International e-Banking Conference and Exhibition hosted by Total Communications here at a local hotel. MCB Lite is an innovative mobile wallet that comes with Visa Card, allowing its users the endless possibilities of shopping, transacting online and for using it at ATM machines across the globe. Speaking at the occasion, MCB Digital Banking & Business Development Head Qasif Shahid stated that ‘it is no secret that the retail and branchless banking space is poised for a big change. He further added that this rapid change is being fueled by the surge in smart phone ownership, regulatory framework and by the arrival of 3 G and 4 G mobile internet services in the country.
Most business models in Pakistan are built around mobile payments so far and have looked similar in approach without any meaningful differentiation in customer value propositions. The launch of MCB Lite ‘A socially connected mobile wallet’ where your mobile number is up graded to become your financial identity or your bank account number. This he said is a novel attempt at digitizing payment behavior in this country. Zargham Khan Durrani, Head Retail Banking (North) at MCB Bank stated that wining this award reflects the tremendous efforts made by the bank’s management and staff in propelling the market forward and as a consequence in aggressively growing the bank in terms of new customers.
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