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Telenor to provide financial services in Hungary

Competition

As of today, mobile service provider Telenor Magyarország will offer mobile-based banking and financial services in cooperation with Budapest Bank, the company announced at a press conference yesterday. 

Telenor will issue a new credit card for the service. The "Telenor MyCard" and the "MyWallet" smartphone application tied to it will combine the mobile paying services of Telenor into one system. MyWallet will support MasterPass, a digital payments platform by MasterCard for secure online transactions. MyWallet will be available first on the Android system, and on iOS in the coming weeks. MyCard will offer several discounts for those requesting a card, for example on the purchase of new smartphones. Zoltán Takács, deputy-CEO for digital services at Telenor says he believes the Hungarian market is ready for new payment solutions.

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