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.
“I would like to assure you that the NFC-payment service is still in our focus,” Péter Forrai, managing director of the electronic banking unit of OTP Bank, told NFC Times, though he called the two payments services and technologies “equally” important to the bank.