Gránit Bank launches mobile payment app with MasterCard

In Hungary

Hungary-based Gránit Bank has launched its own mobile payment application in cooperation with MasterCard, which developed the technology, the bank announced at a press conference Friday, according to reports. The solution is unique in Europe, the bank said.

Using the application, clients of 45% state-owned Gránit Bank will be able to carry out contactless payments with their mobile phones, at terminals operated by MasterCard, said CEO Éva Hegedűs. 

Minister for National Economy Mihály Varga said such payment applications could reduce cash transactions and prevent tax evasion, Hungarian news agency MTI reported.

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