OTP Mobil’s payment solutions registered a record semester in the first half of 2018, with Simple by OTP doubling its transaction numbers and volume, and the total vehicle parking time paid for via the application amounting to almost 150 years.
Simple by OTP registered 1.2 million transactions in the first half of 2018, more than twice the amount of transactions during the first half of 2017, according to a press release sent to the Budapest Business Journal. The total value of transactions was as high as HUF 1.78 billion, also double the amount of the first half of 2017.
Simple by OTP’s parking system was used more than 825,000 times so far this year, producing a total parking time of more than 146 years. Users also purchased 142,000 motorway vignettes, and 128,000 cinema tickets during the same period.
“During the development of the Simple by OTP application, we always maintained the principle that our innovations and the app’s developments should serve convenience and increase consumers’ sense of security,” said OTP Mobil CEO Péter Benyó.
The application’s touch-based mobile payment function, introduced last year, also produced higher figures. The total value of mobile payments based on NFC technology amounted to almost HUF 5 bln during the first half of 2018, up from HUF 77 mln.
OTP Mobilʼs SimplePay solution also produced 2.5 times as many transactions, amounting to HUF 35 bln in total, compared to the first half of 2017.
Internet research company eNET’s findings reveal that traffic via Hungary’s online payment market has increased tenfold in the last six years. The growth is expected to continue, with the market’s value likely to reach HUF 1 trillion in the coming years.