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Corvex Winds up Virtual Bank Card Project

Fintech

Hungarian software developer Corvex has wound up a HUF 275 million project to develop a flexible and secure payment platform based on a virtual bank card, according to a report by state news wire MTI.

Corvex said the three-year project, dubbed SafetyCard, was supported by HUF 152 million in grant money from the National R&D&I Fund.

The platform allows users to make payment transactions using just two mobile phones, one representing the virtualized bank card and the other a virtual POS terminal.

The platform has "not entered the sales phase yet", Corvex CFO Viktória Nemes told MTI.

Corvex had net revenue of HUF 614 mln in 2021, public records show. The company's headcount was 35.

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