Cellum News

Milestone: 100 thousand users in Hungary’s largest mobile payment scheme

Cellum has reached a significant milestone: the MasterCard Mobile app, based on Cellum’s technology, passed 100 thousand downloads in May. The service was launched in 2011, making payments via mobile available at nearly 200 merchants as of now.

MasterCard Mobile is a mobile wallet app based on Cellum’s platform that turns any smartphone into a virtual payment device, allowing goods and services to be purchased beyond the walls of a retailer. Once users register at least one bank card – either credit or debit – in the app, they get access to a wide range of convenient functions:

  • top-up: top up prepaid balances (e.g. prepaid phones, festival cards, E.ON prepaid card, PaySafeCard, RT5 Taxi prepaid card);
  • bill payment: paying phone and utility bills by scanning the QR code printed on the monthly bill;
  • taxi fare: paying the fare in taxis by scanning QR codes;
  • donation: donations can be made to charities using QR codes;
  • online checkout: enter only a phone number in a participating online store and avoid long checkout forms.

Banking-grade security is guaranteed by Cellum’s patented card vault technology. Called Split Secret, the technology is based on fragmenting sensitive information into pieces and storing them in different physical locations.

MCM splash screen

Commenting on the significance of the milestone, Cellum’s Director of Strategy Balázs Inotay said: “We have launched the application some one and a half years ago. Last spring we celebrated 10,000 downloads. Now we have over 100,000 people using Cellum’s app on their phone. Our goal is to have it on most smartphones in Hungary, while at the same time expanding to neighboring countries through large banks and telco partners. Our systems have been built to provide fast, convenient and secure services to tens of millions of users. We have forty Hungarian engineers working on bringing the most brilliant product to the market.” He also expressed his optimism for the future of the industry, saying: “Mobile payments at the international level have been seeing an incredible growth rate. Various research institutes are predicting a 2-or 3-digit annualexpansion in terms of traffic. These trends, even if to a somewhat lesser extent, will still apply to Hungary as well.