MeaWallet, a subsidiary of Seamless, has entered into an agreement with a Hungarian bank to provide MeaWallet’s proprietary technology for contactless card payments.
The new payments solution will help the customers of the bank to perform contactless card payments through present banking application.
It will be delivered as a managed service, integrating the MeaWallet’s tokenisation platform with the banking application.
“The bank is one of the major banks in Hungary, a market where more than half of the payment cards in use have contactless capabilities,” Seamless said in a statement.
MeaWallet head Lars Sandtorv said: “The Hungarian market is rapidly developing towards contactless payments, in fact already last year the number of contactless in-store transactions exceeded the number of traditional transactions.
“We aim to start the delivery in the third quarter and be in production early next year, delivering on our “short time to market” promise.”