State mobile payment system to launch on time despite annulled credit call

In Hungary

Hungary's National Mobile Payment System will be launched as planned, on September 30, in spite of a recent decision by the Public Procurement Arbitration Board (KDB) annulling an invitation by Nemzeti Mobilfizetési, the state-owned company that will set up and operate the system, for a HUF 800 million development loan, Nemzeti Mobilfizetési said. Nemzeti Mobilfizetési acknowledged KDB's decision, which also carries a HUF 5 million fine, but said it was professionally disputable. KDB annulled the invited, negotiated procedure for the loan in May, arguing that Nemzeti Mobilfizetési should have called a conventional tender. It said the company, registered in November, had more than enough time to invite such a tender. Nemzeti Mobilfizetési argued that its supervisory board did not clear the company to seek the development loan, designed to finance IT developments, until March 20. The IT developments necessary to implement the payment system require about four and a half months and should start in May to meet the September deadline, it added. Nemzeti Mobilfizetési invited offers for the loan from four banks - MFB, Takarékbank, K&H and OTP - on March 20. The deadline for submitting bids was April 19. The system will be a uniform one for paying transportation fees throughout the country via mobile telephone. Companies that offer mobile payment services at present will operate as resellers in the new state-run system. It will be introduced for the payment of parking fees and motorway stickers on September 30, and will be extended to railway tickets and public transportation between 2014 and 2017. Parliament passed a cardinal law on the establishment of the system in December 2011. The government passed a decree on the detailed regulations, including fees, in December 2012.

Zwack Profit Falls 16% Figures

Zwack Profit Falls 16%

EC Advances Infringement Procedure Over Hungary's Sovereignt... EU

EC Advances Infringement Procedure Over Hungary's Sovereignt...

Hell Energy Inaugurates HUF 80 bln Capacity Expansion Manufacturing

Hell Energy Inaugurates HUF 80 bln Capacity Expansion

Puskás Arena to Host 2026 Champions League Final In Budapest

Puskás Arena to Host 2026 Champions League Final


Producing journalism that is worthy of the name is a costly business. For 27 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.