The three biggest mobile service providers allied to promote NFC based payment technology in Hungary, among the first ones in Europe to launch such technology. The wireless connection technology will enable payments directly from mobile phones.
Magyar Telekom, Telenor and Vodafone allied with Master Card, OTP Bank and SuperShop in order to promote the Near Field Communication (NFC) based pay services. The trial applications will be launched in 2011, and will be followed by commercial applications in 2012, according to the plans of the six market players.
The six participants founded the Hungarian Mobile Wallet Association (Magyar Mobil Tárca Egyesület), that will plan and implement the technological standards, and make suggestions to the successful introduction of services. The association will also provide the free connection of partners to the service
This joint step of mobile service providers will enable NFC based pay services to spread in Hungary among the first countries in Europe. The NFC based services will replace using cash, credit and debit cards, entry cards and loyalty card. These devices will “move” into mobile phones.
The Near Field Communication (NFC) system is a wireless connection technology that enables devices to communicate without physical contact from a few centimeters distance, and exchange data over a safe channel.