OTPay is EU’s first digital wallet with MasterPass
MasterCard and OTP Bank Hungary announced OTPay, the first digital wallet in Europe to leverage the MasterPass API. It provides cardholders the opportunity to shop and pay at 30,000 MasterPass accepting merchants worldwide. And with the associated app, customers can pay bills online, top up their prepaid or make person to person transactions.
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The OTPay mobile app is available not only for OTP Bank customers, but for clients of other banks too. According to Péter Forrai, Managing Director of OTP, there was a growing demand for mobile payment solutions. “They 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.” For OTP Bank these were the main reasons why they decided to make a wallet with the API of MasterPass. “This global digital platform provides international shopping opportunities to our customers.”
After downloading the OTPay app consumers can register several payment cards within the application, including MasterCard and Maestro and manage their transactions using their mobile phone or tablet. When checking out on a website, card details will be applied automatically and other relevant information such as delivery address can also be selected. The customer will be directed back to the merchant page to place the order and confirmation of his payment will be received automatically.
OTP Bank is one of the largest banks in Central and Eastern Europe. It’s part of OTP Bank Group (OTP stands for Országos Takarék Pénztar, ie national savings bank) and was founded in 1949 in Hungary.