Budapest, February 1st 2012 – 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 and 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.
The first Hungarian experiences of the MasterCard Mobile service, launched last October under the cooperation of MasterCard, FHB, Magyar Telekom, Telenor and Cellum, being positive, the service is soon to be launched in other countries. The technology is based on the CellPay solution, developed by the Cellum Group, which converts the handset into a virtual wallet, enabling bank customers using the application to make their payments in a fast and simple manner, at maximum security.
CellPay is essentially a Mobile Remote Payment (MRP) service, not to be confused with contactless Near Field Communication (NFC) applications, which are similarly popular on the international markets. In many respects, it represents an alternative or supplementary application to NFC. Cellum’s innovation is based on the ‘broken secret’ technology, i.e financial and other data are divided between the handset and a remote server, which prevents hackers from accessing the information.
At London’s Mobile Payment and NFC conference, managers of Orange, Visa, Deutsche Telecom, Telefónica, Telecom Italia and other multinational companies will exchange their views between January 30th and February 2nd concerning the data security challenges the industry currently faces. The results achieved in Hungary as well as the perspectives and the security background of the CellPay technology were presented to representatives of financial and telecom companies by Cellum, also being one of the sponsors of the event. The opportunities of the application of the Hungarian mobile payment innovation were outlined by Cellum’s managers to representatives of major European banks and mobile operators. Cellum CEO & President János Kóka paid a postal money order from his bank account with his cell phone in front of the audience. The innovation, unique of its kind, of the small Hungarian team of developers, achieved considerable success even among the largest of global players.
Technology Quotes That Invite Thought -
Georgina Hajdu, Director at Telecoms IQ said: ‘*As more operators launch their mobile payment services into the market space, it’s important that they do so securely in order to protect their revenues and customers. Mobile Payments and NFC gives these operators the opportunity to meet and discuss with industry leaders some of the solutions available to counter potential security risks within these technologies.’
János Kóka suggested that 2012 will be the year of mobile security all over the world, as the spreading, at an explosive rate, of innovations in mobile technology and commerce involves potential security threats in addition to their substantial potentials. *‘The general use of Internet banking a decade ago also resulted in the emergence of malicious attacks and frauds. We at Cellum are trying to prevent having to face similar security issues in the field of mobile payment.’*
*Cellum: *Hungary’s market-leading corporate group specializing in the development of secure mobile payment solutions. Established in 2000, the fast-growing technology group has worked in close cooperation with partners such as MasterCard, the Magyar Telekom Group, Telenor, Vodafone, FHB Bank, SPAR etc. Cellum’s bank security-level innovations have ranged across all areas of m-commerce, including mobile purchasing, mobile payment and contactless NFC technologies. Today, over one million secure mobile transactions a month are handled in Hungary by Cellum’s team of operators. In 2010, the Group launched its international expansion strategy within the region, setting up a subsidiary in Bulgaria, while negotiations are at an advanced phase with partners in Austria, Russia, Romania, Georgia and Albania, among others. Recently, Cellum Global Zrt. has received a substantial risk capital investment in order to finance its international expansion.