Cellum Archive

NFC technology based mobile wallet coming to Cellum

The mobile payments provider has announced its intentions to include near field communication.

Cellum, a mobile wallet provider from Europe, has announced that NFC technology is on its way to its services. Currently, its mobile payments services are based on Host Card Emulation technology. However, NFC is becoming increasingly commonplace in this market and a company press release revealed they’re joining in.

The company has successfully applied near field communication technology to services in the past.

According to Zoltán Ács, the Cellum director of research and development, “Until recently, Cellum focused on remote payments, though the company is no stranger to NFC, as it has had a number of successful implementations based on the technology in the past.” That said, Ács pointed out that when they had previously used NFC technology, the market hadn’t been “ready for it.”

Cellum believes the market has since evolved and is ready to adopt NFC technology based solutions.

NFC Technology - Mobile WalletHe explained that by implementing NFC based mobile wallets, it will help to better meet a rising demand for secure, rapid and easy to use payment solutions. Cellum has become an official MasterCard Digital Vendor Partner through the Hungarian support of the launch of MasterCard MasterPass.

Cellum provides banks and telcos with mobile wallet services that are MasterPass enabled. They also provider merchants with integration services that use its platform which is compliant with PCI DDS.

As MasterCard gets itself ready for its upcoming launch of contactless HCE based payments through its MasterPass, Cellum will offer its own partners the same functionality. Cellum COO, Ábel Garamhegyi, explained that the company has been using a white label model that included mobile wallet tech for several years. Garamhegyi went on to state that they have used it to established solid partnerships in Europe right through a good portion of the Asian market. He added that it gives the company pride to be “able to serve the diverse needs of our various clients and markets.”

The introduction of NFC technology will only expand on this capability as they broaden their reach as an official Digital Vendor Partner of MasterCard. This will bring together the one-touch PayPass experience with the online MasterPass convenience, all in a single branded app, said Garamhegyi.

OTP Bank rolls out new mobile payments platform

New platform formed through partnership between OTP Bank, MasterCard, and Cellum

OTP Bank has begun to roll out its new mobile payment service, called OTPay. The new service is being launched with the aid of Cellum and MasterCard. The companies announced their partnership in February of this year and have been working together to develop services that would be well received in the mobile commerce space. OTPay is developed by Cellum and adheres to standards devised by MasterCard. OTP Bank is responsible for the financial aspects of the service.

Service may be quite successful in Hungary, where mobile commerce infrastructure already exists

The service is expected to be particularly successful in Hungary, where it is being launched initially. The service will act as a sort of mobile wallet, allowing users to store a wide variety of financial information on a digital platform. The wallet can then be used to make purchases at physical stores and online. Stores, restaurants, and other establishments that are displaying the OTPay logo will accept mobile payments made from the service. Users will also be able to scan QR codes to conduct a purchase if they so desire.

Service makes use of cloud technology in order to secure transactions

Mobile Payments - OTP BankOTPay makes use of cloud payment technology that is meant to secure the transactions that it facilitates. This means that merchants will not have direct access to a consumer’s financial information, but will still be able to receive payment from the consumer. The service also makes use of Cellum’s security technology, which is often used by banks and other financial institutions that adhere to very strict security standards.

Partnerships are becoming common in the mobile commerce space

Partnerships like that between OTP Bank, MasterCard, and Cellum are becoming quite common in the mobile space. The mobile commerce market is saturated and it is becoming more difficult for companies to stand out from amongst their competition. Partnerships can make it easier for these companies to reach consumers with their mobile commerce products. As more partnerships form in the mobile space, consumers stand to benefit from the products and services that these partnerships produce.