Mobile financial service launched in Hungary

The financial service launched by Telenor Hungary enables customers to make financial decisions easily, anytime and anywhere. The Telenor MyCard and the MyWallet app make banking safe and convenient.

Written: Dec 2014

Reading Time: 2 minutes

Telenor Hungary is establishing a new type of customer experience in the field of personal finance; it is a new type of banking for the modern, demanding customer.

“It is a major step for Telenor Hungary to get closer to customers and create value by providing relevant, new services to them. We believe in and we are capable of creating innovative services that will accelerate growth and bring us success in the long run,” said Christopher Laska, CEO of Telenor Hungary.

Re-thinking banking services, Telenor Hungary developed the Telenor MyCard credit card, a money saving solution that makes personal finance simple. The unique service, the first of its kind both in the market and within the Telenor Group, provides a long-term financial solution to customers using mobile technology.

“Telenor Financial Services is a new approach to personal finance. It is designed around our customers with smartphone and Hipernet in their hands, and it combines credit card, a mobile application with extremely appealing collection of discounts and benefits. Similarly to our digital services, its concept has been developed locally, based on customers’ needs and demands. Whether it is cloud, music, TV or personal finance – all you need is your mobile, Hipernet and the respective Telenor digital service,” said Zoltán Takács, Chief Digital Services Officer.

What is Telenor MyCard?

Telenor MyCard is not just a payment tool. The more often customers use it, the greater discount they get. Cardholders can use a credit line at any MasterCard merchant personally or through the internet. Telenor MyCard also enables them to purchase the handset of their choice with a zero-interest and a six to 22 month installment plan. MyCard has better terms than other debit or credit cards as it offers a 1.5% non-capped cashback on any purchase. It is also unique in that the annual percentage rate (APR) is 0% in the first three months, that is, cardholders can use the credit line associated with the card without paying any interest. The card is issued free of charge and has one of the lowest monthly fees in the market, which can be fully offset through regular use.

MyWallet

Being an integral part of the service, the MyWallet mobile application provides a real 21st century customer experience in finance.  It is a simple and fast solution always at hand, enabling its users to track their spending and balance anytime and anywhere. Customers can register their MyCard in the app and initiate secure online payments settled by the card much easier than in traditional online banks. MyWallet also features several banking functions, such as transaction processing, setting POS and ATM transaction limits and viewing exchange rate information.

“We wanted to develop a service that provides a unique customer experience in the market compared to other credit cards. To ensure ease-of-use, we also developed a mobile app that is being continuously enhanced and upgraded with new services,” said Áron Vitályos, Director, Financial Services.