Mobile payment company Cellum to expand into China

Competition

Hungarian mobile payment company Cellum plans to offer services in China, the company said at the Mobile World Congress in Shanghai on Friday, Hungarian news agency MTI said. 

The company, owned by former economy minister János Kóka, is already active on markets in Thailand and Indonesia. Kóka, also the companyʼs CEO, said China holds unmatched opportunities for Cellum as Chinese internet users already spend more than USD 60 bln a year at foreign webshops alone, launching almost half of all e-commerce transactions from mobile phones.

Established in 2000, Cellum started expanding globally in 2011, and now has subsidiaries in Europe, North America and Asia. Cellum is one of Europeʼs leading global mobile payment service providers. Its partners include Telenor, Magyar Telekom, OTP Bank, Erste Bank, FHB Bank and MasterCard. Almost 80% of the company is in Hungarian hands.

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