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Cellum and fastacash ink strategic cooperation agreement

History

Hungarian mobile payment company Cellum and online payment solution developer fastacash yesterday signed an agreement for social media sites and online messenger services, according to reports.

Under the signed agreement the two companies will share partner networks and technology. The two companies expect to reach thousands of traders and several hundred million users on the continents of Asia, Australia, Europe and North America who wish to make payments or money transfers while simultaneously sending messages, said Cellum president-CEO János Kóka, Hungarian news agency MTI reported.

Kóka, who was Hungary’s Minister of Economy and Transport between 2004 and 2007 as a member of the Alliance of Free Democrats (SZDSZ), did not disclose the financial details of the deal, however, he said that cooperation between the two companies could generate at least $5 million for both sides in the next three years, MTI added.

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