The new release is also a major feature update, providing new capabilities, such as the storage of loyalty cards.

Erste Bank was the first bank in Hungary to introduce a branded mobile wallet. Based on leading mobile wallet provider Cellum’s white-label solution, Erste MobilePay was launched in early 2014, providing a host of innovative payment functions, from prepaid airtime purchases to bill payment to GPS-based parking. It was also the first service to offer consumers peer-to-peer transactions between bank cards. Over the years, the app has been further expanded, introducing, for example, biometric authentication last year.

The new release of Erste MobilePay introduces a cleaner, more intuitive modern interface that is more in line with the bank’s digital brand identity, and also offers new functions, courtesy of Cellum. From now on, users can store and present their various store loyalty cards in the app, so they no longer have to carry them around in their pockets. A new Personal Financial Management (PFM) function uses data visualization to help users track their spending, so that they can be more conscious with their finances. Furthermore, previously existing functions have also been greatly simplified.

The new version was released to the public on November 5 and is available for Android and iOS smartphones. Due to the complete overhaul, the app needs to be reinstalled; the registration process, however, is significantly faster and simpler than before. Users can keep using the previous version for another month, however, they can no longer add new bank cards to the wallet.

“In an industry where innovation often happens for innovation’s sake, Cellum is proud to have always provided solutions to real-life problems. We have introduced mobile parking over 10 years ago, so we no longer have to deal with coins at parking machines; with mobile tolling we can purchase highway vignettes with a push of a button without having to find a reseller, and with our bill payment solution we can pay our monthly bills from the comfort of our homes. Now, with the new release of Erste MobilePay, we no longer have to worry about leaving our loyalty cards at home, and the spending tracker will help users get smarter with their money,” said Cellum CEO János Kóka.

“Erste Bank is continuously updating its digital services to meet its clients’ changing needs. Today, 40% of the bank’s clients use digital channels on a daily basis, and the number of people using mobile applications to manage their finances grows steadily. The Erste MobileBank app already has over a hundred thousand users, and in the case of MobilePay, we expect to see a rapid expansion following the overhaul. The redesigned user experience makes MobilePay significantly easier to use, and the new functions make it even more attractive,” said Erste Bank Deputy CEO László Harmati.