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 J√°nos K√≥ka, is already active on markets in Thailand and Indonesia. K√≥ka, also the company ľs 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 Europe ľs 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.

ADVERTISEMENT

Mapei Targets 6% Higher Revenue This Year Figures

Mapei Targets 6% Higher Revenue This Year

Parliament Negates Mandatory Membership in MOK Parliament

Parliament Negates Mandatory Membership in MOK

Richter Board Proposes HUF 390/Share Dividend Pharma

Richter Board Proposes HUF 390/Share Dividend

Veronika Spanarova Wins Expat CEO of the Year Award 2023 Awards

Veronika Spanarova Wins Expat CEO of the Year Award 2023

SUPPORT THE BUDAPEST BUSINESS JOURNAL

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.