MCB Launches Mobile Wallet, A Single Solution for All Financial Needs!

MCB_Lite

The Muslim Commercial Bank (MCB) launched the world’s first Visa enabled, socially connected Mobile Wallet yesterday.

MCB Lite is a mobile account 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. Customers will be able to manage their account through internet as well.

MCB President & CEO Imran Maqbool, Group Head (Retail) Ali Kazmi, Digital Banking & Business Development Head Qasif Shahid, a large number of other stakeholders and media was present on this occasion.

In their marketing campaign they asked the public a thought-provoking question “are you getting the most out of your smart phone?” As it turns out, even though our phones are our most prized possessions, yet we fail to utilize them to their true and maximum potential.

MCB Lite is more like UBL’s WIZ card, but of course with more value and features.

Customers can have their MCB Lite account activated by visiting any MCB branch, by calling their helpline or by sending a SMS “Lite” to 6222.

After having an MCB Lite account, you can fill it by depositing cash, transferring funds in it from your MCB account or from any account of any bank for that matter.

Once filled with funds, Your MCB Lite account will act as your regular bank account. You can shop anywhere, pay utility bills (via internet or Android App), make online payments, transfer funds to other bank accounts and much more.

Just to mention, for using MCB Lite online, you will have to get your account activated for online usage. There are currently no transaction charges associated with payments made over internet.

Here are few of the MCB Lite Features:

  • Global Acceptance
  • Bank Independent: MCB Lite Mobile Wallet resides on top of your existing bank account. You can simply use your Mobile Wallet in conjunction with your existing bank account and load it via IBFT or MCB branches.
  • Unlimited Usage
  • Online Shopping: The payment solution lets you shop securely and safely at local and international online stores.
  • Pay Anyone: In times of need, you can send money to anyone in Pakistan:
    • Any MCB Lite User
    • Any MCB Account Holder
    • Any other Bank Account Holder through IBFT
    • Any valid CNIC Holder (Coming Soon)*
  • Utility Bill Payment
  • Top-Ups: Pay mobile phone bills or buy top-ups of all five Telecommunication companies in Pakistan.

MCB Bank Group Head (Retail) Ali Kazmi  said, “the Bank believes that the greatest benefits are derived from MCB Lite if it is established & practiced in social groups. It’s similar to operating and owning an email account or a fax machine. There is no point in having one if you are the only one with the machine or an email account as there will be no one to send or receive faxes or emails to.

In other words, the more acquaintances you have on MCB Lite the greater the benefit in terms of time saved and money saved through just-in-time, free person-to-person mobile initiated payments,” he added.

Speaking on the occasion, MCB Digital Banking & Business Development Head Qasif Shahid said, “Through our previous work in the mobile/digital payments space and working closely with Visa we have realized that the road to going viral, attaining scale and changing behavior hinges on creating payments solutions that are; bank, telecom & device independent, free of charge, interoperable and support frictionless onboarding processes. MCB Lite is built exactly on these 4 cardinal principles and we hope it revolutionizes the payment behavior of the masses in a top-down approach.”

MCB President & CEO Imran Maqbool said, “MCB Lite complements the excellent work that is already happening in the industry for financial inclusion. All of it has been possible due to the remarkable regulatory framework set-up by State Bank of Pakistan and initiatives so far led by telecom operators with the exception of one large bank.  Most of the players are operating at the bottom of the opportunity pyramid, with MCB Lite; we aim to play in the parts of the opportunity pyramid that remains largely unoccupied by others.”

In future, MCB plans to expand and strengthen their proposition by introducing innovative features and functions by keeping in line with their philosophy of co-creating products with their consumers.

The launching ceremony concluded with an interactive question-answer session and positive note that  Pakistan is among a few countries of the world which are going to develop in this technology during coming four to five years because of being a member of club of English speaking countries and high level of teledensity.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK


  • Zahid Butt

    Excellent feature, very innovative but you forget to mention the annual fees. & we don’t have much e-shop in Pakistan :( to get full benefit of this Mobile wallet.

    • name

      dont think too much on pr post.

  • SAM

    I don’t know whats the innovation or FIRST in this product(except bank independent) as I am getting all these features in my standard chartered debit card since ages.

    • Khurram ShahzAd

      Are you able to pay online via your standard chartered debit card? Have you tried that?

      • Ahmed

        I have paid through my SC Debit Card many times without any problem.

        • Khurram ShahzAd

          Online transfer? which website?

          • SAM

            You can use it anywhere in the world/online where visa is acceptable. Ebay, Amazon, Microsoft, PlayStore and many more are the examples where i have used my SCB card sitting here in Pakistan.

            • boffin

              Did you use it on Godaddy?

        • boffin

          Did you use it on Godaddy

      • Gulfam

        Yes, Standard Chartered’s debit card can help you pay online. I have been using it to pay online on various hosting & e-commerce companies since 2010.

    • Kamalk

      It’s marketing PR. it is their attempt at branch less banking, but they don’t have any telco partner.
      Basically it’s an app that connects to their online banking that’s all. It’s a current account, comes with a visa debit card. You think you’re not opening an account with mcb but you are in a limited way.
      Socially connected nonsense in thr advertising just means that they think you should use it to transfer money to your close circle. And you can send people invites for mcb lite. That is all, just marketing spin.
      Yes, you can do the same on scb, just reg for online banking and use wap site or iPhone app on mobile. Android coming soon.

      • SAM

        So they are using just “Socially Connected” nonsense to claim first in the world…???

        • Akhter

          I think socially connect is just that, marketing spin with no practicle meaning.
          They are trying to offer the popular “branch less” banking solution to the middle class or youths.
          As poor unbanked are not their targets market, they cannot show picture of dehati or old ammas and transfer dukaans.
          Therefore they jazz it up as “social” for this target market. It means nothing in terms of actual functionality of their system.
          In other country someone could have take them to court for misleading ads.
          First In the world just means MCB ad agency is first to market with this spins. :)

      • Gulfam

        Don’t having bank account means, there won’t be any complex bank account number. Instead, your mobile number will be your MCB Lite bank account number. Anyone wishing to pay you can simply enter your mobile number to make a payment. One who doesnot has an account in MCB will also be able to pay via IBFT by selecting MCB, and entering your phone number. Thirdly, SCB or UBL etc charge 3% transaction charges when you make a payment on Internet. MCB is not charging any fee like this.

        • Saro

          Bhai, yeh to Bari farigho wali baat hai.
          Aap phone number say impress Ho Gaye.
          Someone has to have an account sonewhere, otherwise ib(bank)ft can’t work. so either you and your circle all open mcb lite (for which u have to go to the branch and get some basic validation done) and come out with a halfhearted bank account; or you go to mcb or other bank and open a full account.
          Yeh aap ok ulloo bananey mey successful ho gaye hai.
          Furthermore your 3% point is also wrong. ALL banks charge 2-4% on international credit/debit transactions. Since 99.999% of Internet merchants are foreign, internet transactions are usually subject to the %age.
          If u think Your darling mcb is free, u better visit their fees and charges pages

          • Shakeel

            Han main uloo nahi bakra buna bohat galat tarika ha meera mobile balance baht zaya kya than its linked down every time fzul ha ya

  • Abu Khuzaima

    securiteeeee????

  • Zulqarnain Nizamani

    Yesterday :o my friend is using MCB Lite from last 6 months and I ordered 1 almost 4 months ago,

    • kanidefurqan

      Keep it confidential :)

  • DJ

    its mcb bank not Muslim Commercial bank… Please correct.

    • Pyro

      Yea,It was Started as Mansoor Co-Operative Bank in 1947 after that it became Muslim Commercial Bank.
      Now because the Chairman of MCB is Mian Mansha since 1991 it should be called Mansha Commercial Bank.

  • Danish

    they should have put video demo of the features to attract social networks users

  • nasim

    Poor services

  • boredeasily

    eh.. what is the socially connected that makes it the first in the world? what can it do?

  • saliraza

    Well people o say this bank is MC bank where MC stands for abuse. This is my record when ever I visit this bank I came out spliting the word MC bank. The shit service I ever seen in the banking sector in Pakistan. They have incompetent and unprofessional employees. Seems they are uneducated too. Plus they don’t have any ethics to behave with customers. Poor bank of all time

  • saliraza

    I am using UBL wallet. I am still do all the features mentioned above. So what’s new they are offering?

  • Khurram ShahzAd

    Any one using it made any online payments to international sites? how was experience? specially to facebook or any hosting website.

  • Zahid

    Its not MCB (Muslim Commercial Bank), its MCB bank

  • Shakeel Ahmad

    The product is good, but I am in search of a method to receive money for my eBooks being sold through a website to readers in the USA. Will I be able to receive money from net on this card?

  • Vky Munir

    Lets spell MCB in Indian Style! I know all of you have understood what I wanted to say… What is the best thing, I got my card three days ago but I was bit doubtful about this card and easness to get it so I did not activated and even before activating, I called them and asked them how to discard the card….

  • sajjad

    which bank account in pakistan can be used for amazon website ???????????

  • Mian Jazib Ali

    Do not buy MCB Lite. Very bad service. I got my MCB Lite card after 20 days and I am unable to make a purchase online. I wasted about 500 Rs Balance by calling at customer care and nothing happens.

  • Fahad Waqar

    How to upgrade my Mcb lite 0 to Mcb lite 1