Hungarian mobile wallet association established

Hungarian mobile wallet association established

A group of telcos have joined forces with MasterCard and OTP Bank to develop mobile contactless payments services in Hungary.

Magyar Telekom, Telenor and Vodafone have partnered the bank, card outfit and local loyalty programme operator SuperShop to form the Hungarian Mobile Wallet Association.

The association says it will work to design technological standards for mobile NFC services, set out proposals for implementation, create the necessary ecosystem, and attract partners.

The members aim to begin testing the technology this year ahead of a commercial roll out in 2012.

Hungary is the third Eastern European country to reveal plans for mobile NFC payments in the last couple of months, following in the footsteps of Poland and the Czech Republic.

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