Uniform brand name, online contract signing – innovations for merchants looking for a payment solution

By: Trademagazin Date: 2024. 03. 06. 10:08

The popularity of electronic and mobile payment solutions among users and entrepreneurs is growing unstoppably, according to the MNB’s 2023 payment report, the proportion of electronic payments increased by 5-6 percentage points. Accordingly, OTP Mobil continues to develop its range of services according to needs: from February 2024, under the brand name SimplePay, all of its business payment solutions will be available on a single interface, and the contract conclusion process will be fully online for all products.

The number of electronic and mobile payments is constantly expanding, the number of transfers, card purchases and acceptance points all increased last year, while the number of cash withdrawals decreased. In the case of mobile wallet solutions, the largest expansion was measured in the third quarter of 2023, by 14 percent. Today, it is natural to pay with a card – in several ways – you can do business, shop, and buy a parking ticket in applications.

At a time when the number of people using mobile and electronic payments increased many times, OTP Mobil continuously maintained its leading position on the Hungarian market. By the end of last year, the turnover of the SimplePay online payment system operated by the company increased by 53 percent compared to the year 2022, and the number of transactions exceeded one hundred million in 2023. From the largest national service providers to small start-ups, the solution is used in almost all segments of the domestic business world, SimplePay now has more than 27,000 acceptance points.