MC Pay Q1 Updates and Plans for Q2

MC Pay Updates in Q1

1. Withdrawal from MC Pay Crypto Wallet to a Bank Account/Card in EUR 

Now every user has an opportunity to withdraw cryptocurrency from MC Pay crypto wallet to a bank account or card in EUR.

Conditions of withdrawal to an account in EUR:

• Fee – 1.5% after conversion.
• Withdrawal limit – not less than 15 EUR.

Conditions of withdrawal to a card in EUR:

• Fee – 3% before conversion.
• Withdrawal limits – not less than 15 EUR, not more than 3 500 EUR.

2. Euro Account (VIBAN) on the Payment Account 

For users in the European Union countries there is a new unique opportunity. If your official currency is the EUR, when you open a Payment Account, in addition to a US dollar account, a new VIBAN (Virtual International Bank Account Number) in euro currency is automatically available to you.

How is it convenient for users? VIBAN can be used to accept external transactions from legal entities as well as outgoing transactions using Klarpay payment methods to your own and third party accounts. Euro accounts can be opened for both individuals and legal entities.

3. Filters in Transactions in MC Pay 

For even greater user convenience, the ability to filter transactions by type and time interval has been added to the internal and payment accounts, as well as to the MC Pay crypto wallet.

Filters in Transaction Types:

• All types – includes receipts and deductions
• Receipts – positive and zero transactions
• Deductions – negative transactions

Filters in Time Interval:

• 7 days / 30 days / 3 months
• For a period – with the ability to select a start date and end date.

4. Email about MC Pay Funds 

Since not all MC Pay users use the mobile application, they cannot promptly receive information about crediting funds via push notifications. For this purpose our team will duplicate the information to the mail. Previously, such an email was sent only on the crediting of an Advance. Now the emails will inform about:  

• Manual transactions
• Payment to a partner
• Payment to a recruiter
• P2P transfer
• Receiving a payment from a third-party service
• Transaction of a recipient of a third-party service
• Payment for a brand deal
• Funds
• Payment to an employee
• Payment of a referral program reward
• B2P transfer
• Receipt to VIBAN

5. Internal Account in EUR 

For more convenience of business clients, users will have an opportunity to open 2 internal accounts – USD and EUR. Funds can be transferred to this account only through b2p and p2p transfers. P2P transfers are possible only within accounts of the same type: from Internal account in EUR to Internal account in EUR. 

MC Pay Plans for Q2

What new features are coming to users in the near future? Will MC Pay become even more convenient and fast? We talked about all this and other news with our IT Department Product Team Lead Maxim Trofimov.

“In the next quarter, we are focusing on improving the user experience. Thus, we have arrived at the following goals:

• Improve the user experience when going through the registration process
• Providing users with a file with transactions for download
• Refine the process of creating multi-accounts”

We are not stopping here and offer to jointly follow the growth of the MC Pay app on our Blog.

By Veronica Kovalenko

Veronica Kovalenko

Writer at Mediacube. Journalist with 5+ years of experience in fintech, fashion journalism, marketing, and SEO optimization. She has been working at Mediacube for a year and keeps up to date with updates in the world of YouTube, Instagram, Facebook, and TikTok and covers them in the Blog. Her articles count includes more than 400+ expert SEO articles on the topic of business development through marketing.