MCB Bank Ltd (MCB) inked a MoU with Lahore University of Management Sciences (LUMS) to transform the LUMS into a ‘cashless’ campus.
MCB in hands with LUMS intends to make LUMS the only cashless campus of Pakistan where the faculty, students, and other staff will be able to carry out digital transactions by directly using their mobile phones or MCB Lite Visa Card.This project is based on MCB Lite which is world’s leading socially connected mobile wallet. Using MCB wallet one can easily carry out digital payments to provide convenience to socially connected people and individuals of an organization such as LUMS faculty, student body, and staff on campus.
MCB under the current project will also extend additional facilities for LUMS such as Mobile Point-of-Sale terminals and Near Filed Communications.
Dr. Sohail Naqvi, LUMS Vice Chancellor after signing the MoU stated that LUMS is much excited about partnership with MCB. The branch-less banking provides an excellent opportunity to university students to carry out routine research and development using live banking platform. LUMS is always ready to implement innovated mobile banking and technology in order to help consumers to get easy access to financial platforms.
Qasif Shahid, MCB Head of Digital Banking said that LUMS is a key driver of innovation and change in the Pakistani society. LUMS is full of intelligent and bright people who are ready to adopt new and innovative methods of payment. LUMS want students and faculty members to adopt digital money transaction methods and business models.
Sohail Malik, MCB Head of Alliances and Loyalty said that MCB Lite is the most flexible and innovative financial product in world, and LUMS is first ever university in Pakistan to get digitized and adopt cashless banking services.