Erste Bank Hungary has launched a new mobile payment app, MobilePay, developed by Cellum Group.

Launched on 3 March in Hungary, the bank has the option to roll out MobilePay in other Erste countries.

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The MobilePay app is available for Erste Bank customers having iOS or Android-based phones. The app allows customers to pay bills, top-up, GPS-based parking, pay highway toll, motorway sticker and to transfer funds.

Erste Bank Hungary retail business deputy CEO, László Harmati, said that by using the service, retail consumers may execute various financial transactions through smartphones, including payment of postal money orders without having to queue, initiate parking payment or topping up pre-paid phones.

Cellum Group founder and chief visionary, Balázs Inotay, said a financial institution needs the highest level of security, and they excel in providing this.

"Bank-grade security is guaranteed by the ‘split secret’ technology developed by Cellum, and has already been used successfully for years with our other solutions," Inotay added.