Listen to the audio version of this article (generated by AI).
Listen to the audio version of this article (generated by AI).
The renewed agreement builds on five years of cooperation and aims to accelerate innovation in services for consumers and businesses, the companies announced Monday.
K&H provides digital payment and cybersecurity solutions to nearly 1.1 million customers through its partnership with Mastercard. More than 750,000 customers actively use the bank’s mobile banking services, while nearly half a million bank cards have been digitized in mobile payment wallets.
The companies said their cooperation has supported the expansion of contactless and digital payments in Hungary, including digital wallet services and payment solutions for public transportation and employee benefits.
Under the renewed agreement, they will continue developing payment technologies, security features, financial literacy programs and personalized financial services. The partnership also includes customer initiatives connected to music and festival experiences.
K&H and Mastercard are also working on AI-powered payments through the Agent Pay solution. An initial transaction has been successfully completed in a closed test environment, the companies said.
“The renewed partnership is an important milestone for us because it allows us to offer our customers even more convenient digital financial solutions,” said Peter Roebben, CEO of K&H Bank.
“Over the past few years, digital payments have become a natural part of everyday life, and our joint developments with Mastercard have played a key role in this. In the coming years, we aim to align technological innovation even more closely with customers’ real needs: to create services through simple and fast financial solutions that make everyday banking easier.”
Peter Bakenecker, president of Mastercard’s Central Europe division, said the partnership demonstrated how cooperation could accelerate the transformation of financial services.
“Over the past five years, we have jointly made innovative payment experiences available to Hungarian consumers, and we want to build on our shared successes in the future,” he said. “We are working to make payments smoother, more secure and increasingly personalized, while contributing to the further development of Hungary’s digital economy.”
K&H has also received several honors in Mastercard’s Bank of the Year awards program, including recognition in 2026 for easy and convenient banking, corporate social responsibility and “Beyond Banking” services that extend beyond traditional banking.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
