Telenor Hungary offers 'MyCard' mobile banking service to drive customer loyalty

The CEO of Telenor's Hungarian business said a new mobile banking service launched in the country provides a boost to the operator's customer experience by providing a new form of banking to consumers.

Christopher Laska said the Telenor Hungary-developed Telenor MyCard service is a "major step" for the operator, and one that brings it closer to its customers. The operator said the service is the first of its kind in Hungary and within the broader Telenor Group and will provide a long-term financial service to customers using mobile technology.

"We believe in, and we are capable of creating innovative services that will accelerate growth and bring us success in the long run," Laska added.

The Telenor MyCard credit card enables customers to set up a MasterCard account online or in person, and is geared up to offer increasing levels of discounts to consumers based on their usage.

Perhaps a key element of the service is a handset purchase option that provides consumers with a zero per cent interest rate on devices that they can pay back over a period of six to 22 months. The credit card also offers cash back on purchases at a non-capped rate of 1.5 per cent. Telenor Hungary said the card also offers a unique zero per cent annual percentage rate on purchases in the first three months of usage.

Zoltán Takács, chief digital services officer at Telenor Hungary, said customers with a smartphone who subscribe to its Hipernet 4G service can use MyCard, and that the service "has been developed locally, based on customers' needs and demands."

Telenor MyCard ties into the operator's MyWallet mobile financial application, which enables customers to track their spending and balance, and offers the option of setting up secure online payments that are settled faster than payments via traditional online banking services. Customers can also use the card to handle banking functions including transaction processing, setting point of sale and ATM limits, and viewing exchange rates.

Áron Vitályos, director of Financial Services, said the operator set out to develop a service offering a "unique customer experience in the market compared to other credit cards." The operator's mobile app will be "continuously enhanced and upgraded with new services," he added.

The Hungarian service follows the launch of Telenor Group's first wholly owned financial institution in September. Telenor Banka opened for business in Serbia, offering a combination of digital cash payment services, and online and mobile banking.

In November, Telenor launched Valyou, a contactless payment service being run in conjunction with banks DNB and SpareBank 1 Group.

For more:
- see Telenor Hungary's MyCard announcement
- read this separate Telenor Banka statement

Related Articles:
Telenor chief demonstrates mobile payment service with bank bosses
GSMA signs up 11 operators to mobile money code of conduct
Orange Poland teams with mBank to create Orange Finance
EE launches new SIM-only LTE plans; extends Cash on Tap to London's tube
Apple Pay: Good or bad for Europe's operators?
Juniper Research: Mobile banking users to exceed online banking by 2019