Hugary’s Magyar Telekom, Telenor and Vodafone have joined with three market leading operators–MasterCard, OTP Bank and SuperShop–to establish the Hungarian Mobile Wallet Association. The aim of the Association is to design and articulate recommendations for mobile NFC service standards in Hungary, and to submit proposals towards the successful implementation of the service.

Designed to operate over very short distances, Near Field Communication is a wireless switching technology, which facilitates contactless communication and exchange of data between two or even several devices over a secure channel.

The use of contactless bank cards (e.g. PayPass) through the mobile phone constitutes only one pillar of the service. Equally important are other features such as loyalty cards, coupons, travel and entrance tickets, etc. Services that are based on NFC technology are capable of ensuring new and highly attractive customer experiences through their speed, ease of use, innovative features and the possibilities provided by the large and interactive screen of the mobile phone.

This united move of Hungary’s MNOs  may help establish Hungary among the first countries where mobile NFC services are  launched in Europe.

Source: Hungarian Mobile Wallet Association