Powered by Tagit, Mauritius Commercial Bank turns Mobile Phones into Smart Wallets

July 24, 2013

New mobile application developed by Tagit enables mobile payments and cardless cash withdrawal from ATMs and accredited merchants

Singapore, July 24 , 2013 – Tagit, a leading Singapore mobile solutions company, in partnership with Mauritius Commercial Bank (MCB), has introduced “Juice,” the first mobile banking service that enables cardless cash withdrawals and mobile payment capabilities in Mauritius. Developed and deployed in just three months, the new service delivers on the bank’s commitment to offer innovative services to meet the needs of its customers.

Mauritius Commercial Bank’s Juice app offers innovative means of cardless withdrawal through functions like “Juice Cash” and “Juice ATM.” Juice Cash allows customers to withdraw cash from Juice – enabled agents (accredited small shops, boutiques and other merchants) nationwide by transferring money to them via their mobile phones . Juice ATM allows customers to use their Juice app to send money to persons who can then withdraw the cash transferred by keying in relevant codes at MCB ATMs but without using a card.

MCB’s “Juice Payment” option enables customers to use their mobile phones as a credit card by allowing them to make person – to – merchant payments to accredited providers such as doctors, merchants and taxi drivers displaying the “Juice” logo.

Mr. Binesh Mangar, Head of Cards SBU at Mauritius Commercial Bank said: “ There is great demand for innovative m-commerce services among consumers in Africa, and MCB is committed to leading the way in mobile banking services. Tagit has built with us a cutting edge, world-class MCB app that has set the benchmark for mobile payments and banking. We chose Tagit as our technology partner based on their expertise of developing and deploying customer-centric mobile solutions.”

Commenting on the launch of Juice , Mr. Sandeep Bagaria , CEO of Tagit, said: “ As the payments industry evolves mobile will play an increasingly critical role in it. Led by thought leaders like MCB, customers will benefit from innovative banking services and products that were not possible before. A market like Mauritius with more than 100% mobile penetration is ripe for such new services. We are excited at having launched “Juice” with MCB and look forward to delivering more innovation in the future.”

Other features of the Juice app include offering customers the convenience of performing fund transfers, and basic mobile banking functions such as checking account balance, and viewing account details and prior transactions . MCB’s m-banking app is available i n the Google Play s tore and the Apple App store. The Juice mobile banking service is available only to MCB’s internet banking users.

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About Tagit (http://www.tagitmobile.com)
Tagit is an award-winning Singapore-based mobile solutions company with a proprietary mobile banking and commerce platform which provides secure, scalable and innovative solutions for financial institutions and enterprises, to extend their web – based services to the mobile channel in a seamless and cost-efficient manner. Tagit’s proprietary mobility platform Mobeix enables rapid mobilization of banks and enterprises, payment switches and aggregators to deliver transactions with high security and scalability. Tagit is the Winner of the “Emerging Enterprise Award 2012” and has the distinction of being recognised as a “Singapore SME 1000” company based on its outstanding financial performance.

It has an impressive list of marquee bank customers in 10 countries across Asia, Middle – East, and N. America.

About Mauritius Commercial Bank
Established in 1838, Mauritius Commercial Bank Ltd. (MCB) is the leading bank in the Republic of Mauritius, operating 41 branches countrywide. It plays a key role in the country’s economy by extending support to individual and corporate customers. MCB has the largest network of commercial banks in the south – western Indian Ocean region and is listed among the Top 1,000 World Banks. The bank is well – established in Mauritius, Seychelles, Madagascar, Maldives, and Mozambique. The company also operates a representative office in Johannesburg, South Africa, and maintains a presence in Paris, Reunion Island, and Mayotte through the Banque Française Commerciale Océan Indien (BFCOI), a joint-venture with Société Générale. MCB is listed on the Mauritius Stock Exchange where it represents about a quarter of th e total market capitalization.

MCB has a long string of market firsts in Mauritius, pioneering innovations such as ATMs, credit and debit cards, internet banking, junior accounts, green loans and POS terminals among others.

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