Erste Bank’s mobile wallet gets complete overhaul

Analysis

Hungary-based international mobile payment company Cellum has announced the significant overhaul of Erste MobilePay, Erste Bank Hungary’s mobile wallet, with the aim of making it faster, simpler,  easier to use, the company told the Budapest Business Journal.

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

"In an industry where innovation often happens for innovation’s sake, Cellum is proud to have always provided solutions to real-life problems," says Cellum CEO János Kóka.

"We introduced mobile parking more than ten 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."

According to the comoany, Erste Bank was the first bank in Hungary to introduce a branded mobile wallet, based on Cellum’s white-label solution. Erste MobilePay was launched in early 2014, providing payment functions ranging from prepaid airtime purchases to bill payment and GPS-based parking.

It was also the first service offering consumers P2P transactions between bank cards. Since its launch, the app has been further expanded, introducing, for example, biometric authentication last year.

The latest version brings a cleaner, more intuitive modern interface, more in line with the bank’s digital brand identity, and also offers new functions. Users can now store and present their various store loyalty cards in the app. A new Personal Financial Management (PFM) function uses data visualization for tracking spending, so users can be more conscious with their finances. Other functions have been simplified.

“Erste Bank is continuously updating its digital services to meet its clients’ changing needs," says Erste Bank Deputy CEO László Harmati. "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 more than 100,000 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.”

The appʼs new version has been available to the public since November 5, for both iOS and Android smartphones. The complete overhaul means the app needs to be reinstalled, however, the registration process is quicker and simpler than before. The previous version can be used for a month, but adding new bank cards to the wallet is no longer possible. The new version could be downloaded from the Erste MobilePay website.

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