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Leading Central European banking group Erste announced the release of a new branded mobile payment smartphone app for its Hungarian unit which offers the country’s first mobile peer-to-peer money sending capability, among other functions.

Erste MobilePay was developed by Hungary-based Cellum after a hyper-competitive tender that drew in contenders from three continents for the contract to provide a proven secure mobile remote payment technology with an expansive set of functions.

“We are extremely proud to have been selected by such a highly prestigious financial institution as Erste,” said Cellum Founder and Chief Visionary Balázs Inotay, who credited his firm’s ability to guarantee the highest level of bank-grade security for the contract. The firm also pointed to its 14-year history in the mobile payment space, which makes it one of the industry’s most experienced players.

In addition to allowing users to securely send and receive funds on their smartphones, Erste MobilePay offers functions including bill payment and top-up, and GPS-based parking and highway toll payment. The app was made available for both iOS and Android-based phones.

As part of the white-label deal, following the introduction in Hungary Erste will retain the option to roll out the app in the other countries it operates in: The Czech Republic, Slovakia, Romania, Croatia, Serbia as well as its home market of Austria, where in 1819 it became that country’s first savings bank, and thanks to initiatives like Erste MobilePay continues to be one of its most innovative.