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Euronet, Hungarian bank team to accelerate time to market for mobile wallet integration

October 3, 2017

Euronet Software Solutions, a payments software platform provider, has activated its MasterCard Digital Enablement Service packaged software solution for MKB Bank ZRT, Hungary's fifth largest bank, according to Bankracio.

MKB provides various banking products and services in Hungary, and tapped Euronet to create and deliver payments integration software to bridge gaps between the token service provider, the mobile wallet and the bank's ITM payments platform.

"Euronet's MDES solution combined with our ITM payments platform offers financial institutions a fast and smooth path towards mobile wallet integration," said Cindy Ashcraft, managing director of Euronet Software Solutions.

MKB is the second FI in Hungary to implement a mobile wallet using MDES, which allows issuers to manage tokenization and digitization to create EMV-like security for every transaction.

"MKB Bank has a brand promise dedicated to providing modern, flexible and agile financial tools," Deputy CEO Márk Hetényi said in the release. "Putting mobile wallets in the hands of our customers is one of the many ways that we deliver on that promise."