CMS advises OTP Mobile on strategic fintech agreement

International law firm CMS has advised OTP Group’s affiliate OTP Mobile, a leading Hungarian online payment platform, on a strategic fintech cooperation agreement with Raiffeisen.
 
The new cooperation agreement between the two banking groups means that the OTP Mobile’s SimplePay system, a new online QR code based instant payment system, is now available to Raiffeisen customers.
 
The SimplePay payment platform provides online payment solutions for more than 10,000 e-commerce merchants and, thanks to the SimpleBusiness application, it is also available for physical purchases. The solution is based on the QR code standard issued by the Central Bank of Hungary.
 
The CMS team was led by partner Dóra Petrányi and included Katalin Horváth (Technology/Fintech); Szabolcs Szendrő (Competition); Gábor Kutai (Commercial); and Erika Papp (Banking & Finance).