UBL (United Bank Limited) has just launched a new application that is capable of changing how we pay for stuff. The bank has partnered with MasterCard to introduce QR code based digital payment service ‘MasterPass., one of the first of its kinds in Pakistan.
MasterPass Will Allow You To Pay From Phone
MasterPass is a very different application from your current bank payment applications. Instead of manually transferring funds to a payee, you will now have the opportunity to use your phone’s camera to scan QR codes and pay for them instantly through your bank account.
Imagine holding an Electricity Bill in your hand and simply scanning the QR code to quickly pay off the bill. That is what the app is capable off.
The App Will Work With Selected Vendors In The Start
Currently, the MasterPass app will be installed over a few selected retailers. Most of which haven’t been listed yet.
The test phase of the app will begin with the help of online retailers. The QR codes will become available on online e-stores where customers can easily scan the QR code and pay by entering their PIN number. This will greatly save you time since you will no longer have to fill a large form and enter your credit card details manually. Everything will be registered once you set up the MasterPass account. All you’ll need to do is scan and enter PIN.
More details will be released by UBL in the upcoming days/months.