Erste Bank adds NFC to its QR mobile payments app

Phone being tapped on NFC reader

Hungarian bank Erste has upgraded its Erste MobilePay application for Android phones to include NFC functionality, enabling customers to use their phones for contactless payment.

The service is available with Mastercard and Maestro-branded bank cards and was introduced on 7 May. It is being extended to Visa cards from June.

More than 10,000 customers are expected to make use of the service by the end of this year.

The express payment functionality enables users to use contactless for purchases of less than 5,000 HUF (US$17.15). Purchases above this limit must be confirmed with a fingerprint scan or password.

“With the new NFC function, the application has become more appealing for clients as it allows them to only have to carry their smartphone and use [it] as a bank card, since purchases can be made at all vendors with compatible POS terminals,” said Erste Bank deputy CEO László Harmati.