BARCELONA | OTP Bank Hungary announced the introduction of OTPay, the first digital wallet in Europe to leverage the application programming interface (API) of MasterPass™. OTPay will provide consumers a new way to pay online, as well as creating options for bill payment, prepaid top up and person to person transactions.
OTPay Mobile Application
The OTPay mobile application will be available for download not only for OTP Bank customers, but for clients of other banks too. The application will allow cardholders to shop and pay at over 30,000 merchants who accept MasterPass in their online shop around the world. The application was developed by Cellum, the Hungarian company group known for delivering mobile payment solutions with banking-grade security.
Register MasterCard and Maestro cards and others
After consumers have downloaded the OTPay application they can register several payment cards within the application including MasterCard, Maestro and other payment brands. Cardholders can use their mobile device to manage transactions. During check-out card details will be applied automatically, other relevant information such as delivery address can also be selected. Following this step the cardholder is directed back to the merchant page to place the order. Confirmation of the payment will be received automatically.
'Open to accept cards from different schemes'
‘OTP Bank has been a leader in the adoption of new technologies in the payment industry for many years’ said Péter Forrai, Managing Director of OTP Bank Electronic Banking Directorate. ‘Recently we have realized a growing demand for mobile payment solutions, which not only provide a high level of comfort and security for the customer but are also open to accept cards from different schemes and even functions. These were the main objectives why we decided to adopt MasterCard’s global digital platform as MasterPass™ provides international shopping opportunities to our customers.’
Largest Retail Bank in Hungary Integrates MasterPass
Endre Eölyüs, Country Manager for Hungary and Slovenia at MasterCard said: ‘We are very proud that OTP Bank, the largest retail bank in Hungary decided to integrate MasterPass™ as a major global platform for their remote mobile payment application. This has been a strategic decision from the bank within a process while they were searching for a solution with the most potential for future use.’
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
Sourced from MasterCard, February 25th, 2014.