Hungary's OTP Bank in contactless card roll-out

Source: VeriFone

VeriFone today announced that its payment systems are being used by OTP Bank of Hungary in that country's first rollout of MasterCard PayPass contactless cards.

OTP Bank, the largest bank among Hungarian credit institutions and the dominant player in each segment of the Hungarian banking market, is being supplied by VeriFone's local partner, INPAS International Kft., with the contactless version of VeriFone's highly-ergonomic PINpad 1000SE, which offers a fast and simple way to accept the latest in both PIN-based and contactless payment.

"Contactless is a simple upgrade solution for merchants using the PINpad 1000SE," said Adam Biedrzycki, VeriFone general manager for Continental Europe. "We applaud OTP Bank's efforts to provide the convenience of MasterCard PayPass payment to Hungary's consumers and merchants."

"The launch of contactless payment in Hungary opens new market opportunities for all participants and demonstrates the synergy of these parties in delivering innovative technologies into European markets," said Igor Stukanov, Vice President, INPAS Company's director for business development.

The contactless PINpad 1000SE combines two payment peripherals-PIN entry and contactless-into one space-saving device that reduces costs and support burdens. Suitable for use worldwide, the PCI PED approved PINpad1000SE contactless version is backward-compatible with earlier versions, and features USB or serial connectivity for easy connection to electronic cash registers and POS devices.

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