New Instant Payment Service “Qvik” Gearing Up in Hungary
- 31 Jul 2024 4:44 PM
- Hungary Around the Clock
OTP will be among the first banks to offer the new mobile payment service “qvik” in September, the lender announced.
The service will be free for consumers and cheaper for merchants compared to current fees for accepting cards.
Qvik requires no extra setup from merchants, who can implement it via OTP’s existing online SimplePay payment solution.
The bank expects widespread adoption of the service due to its ease of use and cost-effectiveness.
In the first phase, businesses using SimplePay can offer customers QR code and deeplink payment options and, at a later stage, the payment solution will allow NFC based contactless transfer payments between parties.
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