MCB Bank has indicated to launch its state-of-are mobile banking service in collaboration with Nokia irrespective of its model and cellular phone company. This Mobile Money Service will be available to all MCB Bank and Nokia customers.
The MCB Bank Mobile Money Service powered by Nokia will allow mobile phone users to transfer money to another person by using the person’s mobile phone number and also top-up prepaid connections pay bills and enjoy cashless shopping.
This will be for the first time a financial institute/bank has partnered with a handset manufacturer and mobile solutions company anywhere in the world.
The mobile banking service has been declared as Pakistan’s first money transfer platform in a unique cross industry partnership.
The MCB has signed a cooperation agreement with Nokia International for development and extension of financial services to million of Pakistani mobile phones users in July 2011.
The competition seems intensifying among telecom operators and banks as more players are about to enter into the industry with their innovative services against lowest rates.