Hungarian CellPay technology suitable for Western European markets

Budapest – At London’s Mobile Payment and NFC conference, industry experts will exchange ideas on expected trends in mobile payment and purchasing this year. The three-day event is co-sponsored by Hungary’s Cellum Group, creator of the CellPay secure mobile payment system. The company’s innovative solutions include the MasterCard Mobile service whose world premiere in Hungary last autumn will soon be followed by its launch in other markets. Cellum’s innovative technology is not operator-specific. The Hungarian company’s CellPay system, presented by Cellum CEO & President János Kóka to managers of Orange, Visa, Deutsche Telecom, Telefónica, Telecom Italia and other international companies, offers a potential global solution for the customers of banks and cell phone operators.

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European debut in Hungary: MasterCard selected Cellum

Budapest – The new technology developed by Cellum allows using mobile telephones as MasterCard bank cards in Hungary. Hungary is the first country in Europe to implement the new technology, and the launch in Hungary is, at the same time, the European debut of the application. Thanks to the cooperation with multinational partner MasterCard, Cellum can now enter the world market with its application available on four platforms (iPhone, Android, Windows Mobile, SIM).

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Hungarian exhibitor at the NFC World Congress has developed a new method for mobile payment

Sophia Antipolis/Nice – A new Hungarian invention unveiled in France by Cellum’s experts may result in a breakthrough in mobile payment. The new innovation enables non-bank or carrier-specific mobile purchases and bill payment and may help accelerate the increase of the international use of contactless NFC technology*. The NFC CellLink technology, an industry first, is first presented to the trade at the NFC World Congress between 19 and 22 September.

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Berlin – An innovation of the Hungarian Cellum Group, smart Szimpla Cards are now accepted as means of payment at the Szimpla cafés of Berlin and Budapest. In addition to cash, the secure NFC card developed by the company can soon be topped up online or using a cell phone. In addition to providing a secure non-cash means of payment to customers, it makes the operation of the business more transparent and easier to organise, which in turn reduces the costs of operation. In Berlin, the system has been up and running since September and will also be available in Budapest from October.

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Sofia – Ilyan ZAFIROV, CEO of Corpbank (Corporate Commercial Bank AD) today signed an agreement in Sofia with János KÓKA, Chairman and CEO of Cellum Global on establishing Cellum Bulgaria, a joint venture company (JV) for developing and providing mobile payment transaction services. The Bulgarian partner to Cellum Bulgaria shall be Corpbank and Velder Consult. The establishment of the JV is planned for the fourth quarter of 2011. The new innovative venture, Cellum Bulgaria, shall introduce easy-to-use mobile purchase, mobile payment and NFC (contactless) transaction services into the Bulgarian market, all of which will be based on Cellum's secure payment technology.

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Budapest – PortfoLion Venture Capital Fund Management Ltd is to invest HUF 400 million (EUR 1,5 million) in Cellum Global Zrt, member of the Cellum Group, the hungarian market leader in mobile payment solutions. Financial resources required for the transaction are provided by the European Union JEREMIE venture capital fund (Joint European Resources for Micro to Medium Enterprises Initiative). The agreement on the largest venture investment so far in the region’s mobile payment sector was signed on 1st September 2011. The technology developed by Cellum is marketable in foreign markets, and therefore the investment is a strategic move expected to be highly profitable for PortfoLion, a member of OTP Group. The capital increase is to support the international expansion of Cellum.Subject to the fulfillment of certain terms and conditions under this agreement, the transaction may be followed by a similar capital injection next year.

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