MasterCard and OTP Bank Hungary have announced the introduction of OTPay at the Mobile World Congress today.

OTPay will be Mastercard’s first digital wallet in Europe to use its application programming interface MasterPass.

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Customers can link their existing Mastercard and Maestro payment cards to the application and then use their mobile phone to manage transactions.

OTPay can fulfill all the standard digital wallet functions such as being able to pay online, bill payment, prepaid top up and peer-to-peer transactions.

The mobile application will be available to OTP Bank and non-OTP Bank customers and customers will be able to use the digital wallet at merchants accepting MasterPass.

Péter Forrai, Managing Director of OTP Bank Electronic Banking Directorate said: "Recently we have realized a growing demand for mobile payment solutions, which not only provide a high level of comfort and security for the customer but are also open to accept cards from different schemes and even functions.

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"These were the main objectives why we decided to adopt MasterCard’s global digital platform as MasterPass provides international shopping opportunities to our customers."

Endre Eölyüs, Country Manager for Hungary and Slovenia at MasterCard said: ‘We are very proud that OTP Bank, the largest retail bank in Hungary decided to integrate MasterPass as a major global platform for their remote mobile payment application.

"This has been a strategic decision from the bank within a process while they were searching for a solution with the most potential for future use.’

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