MasterCard has selected Cellum to act as Trusted Service Manager (TSM) of the new application. Hungarian mobile telecom service providers Telekom and Hungarian financial institution FHB Bank are set to cooperate in the implementation of the service.
The mobile app developed by Cellum is set to be used for making top-ups, utility bill payments, money transfers and online shopping.
The new service is expected to result in savings of over EUR 337 million (HUF 100 billion) per year, according to a study prepared by the National Bank of Hungary in March 2011.
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