Customers downloading the app called MobilePay, may make payment of electronically printed postal money orders without having to queue, or transfer funds to their asquintances from their phonebook at the touch of a button. The app is also suitable to pay for parking fees, and buying a motorway sticker also takes but a few seconds, and prepaid minutes may also topped up with all three mobile carriers.
Erste Bank Hungary is pioneering in the Hungarian market, being the first bank to have launched such a complex mobile payment solution developed for smartphones, according to the press release.
Lazlo Harmati, Erste Bank’s Deputy CEO in charge of retail Business, said that by using the service, launched as the forerunner in the Hungarian market, retail customers may execute various transactions via smartphone.
The function “postal money order payment” for instance can be applied to electronically printed yellw and white money orders, typically used for utility bill payment. After selecting the type of money order, the phone’s camera is to be used to read the data printed on the money order. The data are automatically displayed on the screen and statements may be added. After checking the data, all the customers has to do is select the bankcard to be used for payment.
As an additional convenience function of the service, account holders may transfer funds via MobilePay to aquintances without having to know their bank account number even if they bank with other financial service providers. All it takes for the transaction is to select the phone number of the beneficiary from the phonebook.
MobilePay is available to all retail customers of Erste Bank that hold a forint denominated retail bankcard or credit card. No dedicated contract is required for using the service, a contract for a bankcard or a credit card established at the time of applying for such a card will suffice.
The new service was developed by Hungarian-owned Cellum Group, one of Europe’s leading suppliers of mobile payments solutions.
Erste MobilePay can be downloaded free from Google Play or AppStore to a smartphone using Android 2.2 or iOS 6.0 or higher.
According to the bank’s own survey, one in every five smartphone owners regularly downloads various apps, and nearly every oher use downloads the apps they are interested in. The bank’s research also reveals that more than half the customers appreciates simplicity, convenience, and swiftness when using a mobile payment app.
Due to their convenience and simplicity, digital banking opportunities have been gaining popularity among Erste Bank customers. In 2013, customers of the bank launched a total of 6,840,000 transactions via NetBank, representing 570,000 transactions per month on average.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: