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Állami Nyomda to invest HUF 800 mln in mobile payment

Hungarian listed printing company Állami Nyomda has started a HUF 800 million investment to develop TSM platforms and mobile NFC reference applications that will make it possible to make secure payments via smartphone.

Állami Nyomda received HUF 210 million in National Development Agency grants for the investment, which the company expects to recoup in a period of three years. The remaining capital will be raised from the company's own resources. The investment is Állami Nyomda's largest in the past decade.