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MCB unveils first socially connected mobile wallet

MCB Bank has rolled out its first socially connected Mobile Wallet in association with global payment and technology firm Visa, as part of its strategy to enable payment transactions using their smartphones.

The new MCB Lite virtual wallet allows users to load funds digitally leveraging their existing bank account and link it to their existing telecom provider and smartphone without switching phone/bank/telecom operator, reported pakobserver.

Users can reimburse payments at no cost, purchase top-ups, pay bills, shop online, enjoy discounts and much more across the globe through a combination of the mobile wallet and Visa Card.

MCB Bank retail group head Ali Kazmi was quoted by the as saying, "The Bank believes that the greatest benefits are derived from MCB Lite if it is established & practiced in social groups."

"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" Kazmi told the news portal.