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Budapest, April 21, 2016– Cellum’s mobile payment service recently hit a key milestone, in the form of its 100 millionth transaction. The most popular use cases are parking, highway toll payment and lottery ticket purchases, but the company’s cashless solution is also a popular payment method at vending machines. CEO János Kóka talked about reaching the milestone and the future of mobile payments at the 2016 Kártyapiac (Cards Market) Summit, Hungary’s leading conference on payment technology.
Cellum launched its first nation-wide mobile payment service in Hungary in 2006. Since then, the market has undergone significant change, as an increasing number of merchants and banks look to leverage mobile payments. Mobile parking was the debut service, which for the first time spared motorists the hassle of coins. At first available in only a few select cities, the service saw some 200,000 transactions in the first two years of its launch, while in 2015 alone the same figure hit well over 13 million, making it the company’s most widely-used service. Last year, Cellum also entered the mobile parking space in the Bulgarian capital of Sofia as part of a consortium.
Other popular use cases include payment for highway use, amounting to a quarter of all transactions, and purchase of lottery tickets, which in 2015 yielded 5.6 million successful mobile transactions. The 100 million transactions represent a total value of around HUF 70 billion (about US $257 million).
“Cellum Group launched its mobile payment services ten years ago, and we had our international debut five years ago. Our goal is to migrate everything you have in your physical wallet to your phone, from payment cards and coupons to photo IDs and other financial services,” said Cellum Global CEO János Kóka.
Cellum’s solutions already enable easy and secure mobile payments in four countries. The company’s system is used by over 1,000 merchants, while users can pay for online and in-store purchases, buy drinks from vending machines, pay utility bills, recharge prepaid phones, donate to charity and buy digital content, gift cards and movie tickets. Hungary’s first mobile wallet, MasterCard Mobile was developed by Cellum in cooperation with FHB Bank, Magyar Telekom, Telenor and MasterCard, and the company built the MasterPass-enabled wallets of OTP Bank and Telenor, as well as the mobile wallet of Erste Bank.
Companies: Cellum Group