Hungary's Largest Bank Plans NFC Rollout Despite Recent QR-Code Payment Launch

May 15 2014

The launch of a QR code-based mobile wallet by Hungary’s largest bank, OTP Bank, and Hungary-based mobile-payments technology supplier Cellum, along with MasterCard Worldwide, is not expected to interfere with plans by the bank to launch NFC-mobile payments later in 2014.

Sources told NFC Times that OTP Bank plans to commercially launch NFC payments in the third or fourth quarters of the year, issuing a MasterCard PayPass application on SIMs from Magyar Telekom and Vodafone Hungary. Germany’s Deutsche Telekom owns a majority stake in Magyar Telecom, which is the country’s largest telco. Telenor Hungary, the country’s other major mobile operator, also plans to launch NFC by the end of the year. 

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Among Topics Covered: 

  • Plans by Hungary’s largest bank, OTP Bank, to roll out mobile-NFC payments, despite launching a separate cloud-based payments service using QR codes
  • Details on MasterCard Worldwide’s subsidies of TSM integration costs and SIM-rental fees
  • Details on OTP Bank’s OTPay cloud-based payments service
  • Updated results of the large NFC-mobile payment trial launched in July 2013 and coordinated by the Hungarian Mobile Wallet Association, including payment and loyalty transactions per month compared with card-based transactions
  • Views by bank and wallet association on host-card emulation

Sources Quoted:

Péter Forrai, MD, electronic banking unit, OTP Bank
Gabor Lemak, gen. sec., Hungarian Mobile Wallet    Association 

Among companies and organizations mentioned:

OTP Bank
MasterCard Worldwide
Magyar Telekom
Vodafone Hungary
Telenor Hungary
Hungarian Mobile Wallet 
Cellum
Budapest 
GE Money 

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