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

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

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.<br />

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.<br />

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.<br />

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

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.<br />

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.<br />
<div class="adsxpls" id="adsxpls1" style="display: block; margin-left: auto; margin-right: auto; padding: 0px; text-align: center;">
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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.<br />

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.<br />

Here are few of the MCB Lite Features:<br />

<ul>
<li>Global Acceptance</li>
<li>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.</li>
<li>Unlimited Usage</li>
<li>Online Shopping: The payment solution lets you shop securely and safely at local and international online stores.</li>
<li>Pay Anyone: In times of need, you can send money to anyone in Pakistan:
<ul>
<li>Any MCB Lite User</li>
<li>Any MCB Account Holder</li>
<li>Any other Bank Account Holder through IBFT</li>
<li>Any valid CNIC Holder (Coming Soon)*</li>
</ul>
</li>
<li>Utility Bill Payment</li>
<li>Top-Ups: Pay mobile phone bills or buy top-ups of all five Telecommunication companies in Pakistan.</li>
</ul>
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.<br />

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.<br />

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.”<br />

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.”<br />

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.<br />

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.</div>

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

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

9:13:00 PM

Telecom Revenues Reach Rs. 446 Billion During 2012-13

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Revenues generated by Telecom operators in Pakistan in a single 
fiscal year reached all time high at Rs. 445.7 billion during 2012-13, 
said Pakistan Telecommunication Authority’s annual report on telecom 
industry.<br />

Report said that revenues of telecom operators grew by 8.9 percent 
during 2012-13 and reached Rs. 445.7 billion, up from Rs. 409.2 billion 
during same duration previous year.<br />

Report said that increasing revenues from the telecom sector indicate
 the strength and size of the market despite the economic difficulties 
and tough competition, especially in the cellular sector.<br />

Moreover, revenues of LDI operators grew by over 200 percent, all thanks to ICH.<br />

<h4 align="center">
<span style="font-weight: bold;">Telecom Revenues (Rs. in Billions)</span></h4>
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Not to mention, telecom operators are now exploring new avenues to 
earn from, reducing dependence on the voice channels alone. It is 
expected that influx of 3G technology into the telecom market will 
further boost the revenues of the sector.<br />

<h4>
<span style="font-weight: bold;">Telecom Contribution to National Exchequer </span></h4>
Telecom sector is one of the highest contributors to the National 
Exchequer, putting Rs. 119 billion per year in the National Kitty on 
average for the last five years.<br />

Despite growing cellular subscribers, increased traffic and higher 
taxes, the fiscal year 2012-13 saw lesser contribution to the National 
Exchequer from telecom sector i.e. Rs. 124 billion as compared to Rs. 
133.41 billion deposited by telecom sector in FY2011-13.<br />

General Sales Tax (GST) forms the major part of the contribution with Rs. 57.78 billion collected by FBR from telecom sector.<br />

A huge sum of Rs. 53.52 billion has been paid by the telecom 
operators under various heads such as duties, withholding tax, fees etc.<br />

PTA has also received Rs. 6.8 billion from the operators under 
various regulatory heads and deposited into the National Exchequer till 
March, 2013 while Rs. 7.52 billion was collected under the Activation 
Tax head.<br />

<h4 align="center">
<span style="font-weight: bold;">Telecom Sector Contribution to National Exchequer</span></h4>
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<ul>
<li><em>GST for the province of Punjab is estimated for the fiscal year 2012-13</em></li>
<li><em>Note: PTA’s contributions comprise of all its receipts including
 Initial and Annual License Fee, Annual Radio Frequency Spectrum Fee, 
Annual Spectrum Administrative Fee, USF and R&D Fund Contributions, 
APC for USF, Numbering Charges, License Application Fee, etc.</em></li>
<li><em>Others include custom duties, WH Tax and other taxes.</em></li>
</ul>
<h4>
<span style="font-weight: bold;">Telecom Investment </span></h4>
With 188 million population and 128.93 million cellular mobile 
subscribers, Pakistan’s telecom sector provides enormous opportunities 
for foreign and local investors.<br />

International telecom companies have significant presence in 
Pakistan. These companies are successfully doing business in all over 
the country.<br />
Telecom sector of Pakistan has attracted substantial foreign 
investment after the deregulation. During FY 2005-06 to FY 2011-12, 
telecom sector attracted over US$ 12 billion of investments including 
US$ 6 billion FDI.<br />

However, during recent couple of years, as telecom companies have 
already established most of their networks, companies have reduced their
 investments.<br />

During FY2012-13, a total of US$ 472 million investment has been 
reported in the telecom sector, showing 96 percent growth over the 
investment of US$ 240.3 million in the year before.<br />

This increase in investment is mainly contributed by the cellular mobile segment followed by FLL and WLL segments.<br />

Recently, cellular mobile companies have also increased investments 
in their networks in anticipation of up-coming 3G/4G services in the 
country.<br />

<h4 align="center">
<span style="font-weight: bold;">Investments by Telecom Sector</span></h4>
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Despite the excellent growth in overall investment, Foreign Direct 
Investment (FDI) still remained on the negative side of the scale due to
 more capital outflows by companies than inflows.<br />

The negative FDI of US $408 million during the FY 2012-13 can 
possibly be turned around by conducting further spectrum auctions such 
as 3G auction to introduce new technology in the country and resultantly
 bringing substantial foreign investment into the country.<br />

<h4 align="center">
<span style="font-weight: bold;">Foreign Direct Investment</span></h4>
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<h4>
<span style="font-weight: bold;">Telecom Imports </span></h4>
During the FY2012-13, import of telecom equipment and 
telephone/cellular handsets reached US$ 918.4 million, declining 
slightly from the figure of US$ 954.05 million during FY2011-12.<br />

The import of mobile handsets increased to US $467.1 million from US $465.3 million at the end of previous fiscal year.<br />

The rise in the demand for smart phones in the country has substantially increased the overall import bill of handsets.<br />

Government of Pakistan, earlier this year, imposed the duty of Rs. 1,000 per handset
 on the import of smart phones. This may not be helpful in reducing the 
demand for handsets; however, it may encourage smuggling and 
sub-standard Chinese handsets in the market.<br />

In order to curtail the burden on import bill, Government should 
encourage the private sector and multinationals for local 
manufacturing/assembly of handsets and telecom equipment.<br />

<h4 align="center">
<span style="font-weight: bold;">Telecom Imports</span></h4>
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</div>

Telecom Revenues Reach Rs. 446 Billion During 2012-13

Revenues generated by Telecom operators in Pakistan in a single fiscal year reached all time high at Rs. 445.7 billion during 2012-13, sa...

2:17:00 PM

Google Makes 98% of Profit From Play Store via In-app Purchases

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In a new report by analytics firm, Distimo, it has been proven that 
how powerful the bloodsucking Freemium modelling of apps is. A mammoth 
98% of revenue that Google makes from the Play Store comes as a result 
of in-app purchases from these free apps.<br />

Piracy has always been a huge issue on Android and while this method 
is a pain to live with, it has also proven to be a great way of 
combating privacy. As you would expect, the remaining 2% money comes in 
from paid apps and in-app purchases on these paid apps.<br />
Google also makes about $12 million a day from the store, up from a 
paltry $3.5 million a year ago but behind Apple’s figure of $18 million a
 day. Also up, from 30% to 37%, is the percentage of worldwide app 
expenditure.<br />

A huge amount of money was made via developing markets. A particular 
case was that of South Korea from where earnings increased by a stunning
 759%.<br />

So there you have it, the future that is. While we know for sure that
 you loathe freemium apps like Real Racing 3, Angry Birds Go! and Candy 
Crush Saga, they are certainly the way forward. Or at least until 
governments worldwide take a strict action against them.</div>

Google Makes 98% of Profit From Play Store via In-app Purchases

In a new report by analytics firm, Distimo, it has been proven that how powerful the bloodsucking Freemium modelling of apps is. A mammo...

2:05:00 PM

Warid Launches Mobile Paisa, its Mobile Financial Services!

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Warid Telecom and Bank Alfalah Limited have launched their Mobile Financial Service (MFS) by the name of ‘Mobile Paisa’.<br />
The soft launch of ‘Mobile Paisa’ has been announced with the tagline “Chalta Rahey Pakistan”.<br />
Warid Telecom and Bank Alfalah aims to serve the unbanked population of Pakistan with their banking needs.<br />
Monet (Pvt.) Limited is the technology provider for the Mobile Paisa,
 that has partnered with Fundamo – a global mobile platform provider, to
 utilize its technology and offer branchless banking solutions to banks 
in Pakistan.<br />
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</div>
‘Mobile Paisa’ is initially being launched with quick and convenient 
payments of utility bills and the most secure money transfer facility 
across Pakistan and is scheduled to come up with innovative services the
 in near future.<br />
Speaking about the service, Warid Telecom’s Chief Commercial Officer,
 Mr. Younas Sheikh said, “Mobile Paisa has been designed keeping in view
 today’s financial needs. This service will provide a secure channel for
 daily financial transactions such as money transfer and payment of 
utility bills. This is what ‘Mobile Paisa’ set out to innovate and we 
will keep on adding to the amazing features of ‘Mobile Paisa’.”<br />
Commenting on ‘Mobile Paisa’, Bank Alfalah Limited’s Head of 
Branchless Banking Mr. Amaar Naveed Ikhlas said, “Mobile Paisa is aimed 
at making banking, money transfers and bill payments effortless tasks. 
In this era of modernization and technical development, it is essential 
to digitise and hence enhance transacting convenience through a secure 
and swift system.”<br />
Discussing ‘Mobile Paisa’, Monet’s CEO Mr. Ali Abbass Sikander 
stated, “Monet envisions a collaborative branchless banking environment 
which enables the larger financial inclusion agenda set forth by the 
State Bank of Pakistan. We, at Monet, facilitate existing and new 
players alike in their efforts to promote branchless banking. Warid 
Telecom and Bank Alfalah’s collaboration for ‘Mobile Paisa’ is an ideal 
platform providing branchless banking together and interconnect with 
other existing players to extend the benefits to a wider audience.”<br />
Monet financial cloud solution has the capability to host multiple 
banks completely secure and independent from each other. The platform 
technology and operations have been audited by independent auditors and 
SBP as well.</div>

Warid Launches Mobile Paisa, its Mobile Financial Services!

Warid Telecom and Bank Alfalah Limited have launched their Mobile Financial Service (MFS) by the name of ‘Mobile Paisa’. The soft launch...

7:21:00 AM

Urdu Gets Recognized as an Official Language on Facebook

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Facebook has finally included Urdu as its officially supported 
languages for the users, after which Facebook users can now officially 
set Urdu as their language on the portal.<br />

This was achieved after Facebook Translation team concluded the 
translation of all modules of the website into Urdu. For the purpose, 
general users also contributed towards the cause and finally Urdu was 
recognized as an official language.<br />

Users can set Urdu as their primary language by following these steps:<br />
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</div>
<ul>
<li>Go to home page of Facebook.com, below the ads (on the right side) 
there’s English(US) selected as your primary language, click on it.</li>
<li>On Next page, click on Urdu to set Urdu as your primary language,</li>
<li>That’s it.</li>
</ul>
Check below screens for further elaboration:<br />
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click on Urdu to set Urdu as your primary language,<br />
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<a href="http://3.bp.blogspot.com/-UfdeGpfYGkM/UsN7Ad5O1KI/AAAAAAAAEzo/Ldb8n_bigxI/s1600/FB_Urdu3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://3.bp.blogspot.com/-UfdeGpfYGkM/UsN7Ad5O1KI/AAAAAAAAEzo/Ldb8n_bigxI/s1600/FB_Urdu3.jpg" /></a></div>
</div>

Urdu Gets Recognized as an Official Language on Facebook

Facebook has finally included Urdu as its officially supported languages for the users, after which Facebook users can now officially s...

7:19:00 AM

Zong and Warid Imposes 10 Paisas Call Setup Charges

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<a href="http://1.bp.blogspot.com/-pGszPmxXCwo/UsN4yINx3kI/AAAAAAAAEzM/v4uKxpybm2A/s1600/Pakistani-Mobile-Phone-User.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://1.bp.blogspot.com/-pGszPmxXCwo/UsN4yINx3kI/AAAAAAAAEzM/v4uKxpybm2A/s1600/Pakistani-Mobile-Phone-User.jpg" /></a></div>
After Mobilink, Telenor and Ufone, Zong and Warid have also imposed a call setup charges of 10 paisas plus tax.<br />

This call setup charges are imposed on every prepaid outgoing calls for all packages, voice bundles, LBC offers or free bundles.<br />

Zong in a message published on its website said:<br />
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<blockquote>
Dear customer! A call setup fee of 10 paisa would be charged on every outgoing call from 28th December 2013.</blockquote>
PTA, on the other hands, has said that <a href="http://rexhacker.blogspot.com/2013/12/pta-to-block-10-paisas-call-setup.html" target="_blank">it will go on to block any such call-setup charges</a>.
 PTA, in a communication with RexHacker, had said that it is figuring
 out a way to block call-setup charges imposed by cellular operators.<br />

Mobile phone subscribers are greatly disturbed about call setup charges. They term the move by cellular companies as brutal.<br />

All five cellular operators imposing call setup charges, first of its
 kind in any regional and global market, is being termed as 
cartelization of industry, where all operators have joined hands to 
impose a meaningless charge on calls in parallel.</div>

Zong and Warid Imposes 10 Paisas Call Setup Charges

After Mobilink, Telenor and Ufone, Zong and Warid have also imposed a call setup charges of 10 paisas plus tax. This call setup charges...

7:13:00 AM

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

Telecom Revenues Reach Rs. 446 Billion During 2012-13

Google Makes 98% of Profit From Play Store via In-app Purchases

Warid Launches Mobile Paisa, its Mobile Financial Services!

Urdu Gets Recognized as an Official Language on Facebook

Zong and Warid Imposes 10 Paisas Call Setup Charges

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