Customers can pay via their mobile phones from February.

As the payer scans the QR code provided by the recipient, the payment is transferred instantly.

Hungarians hold some Ft 8 billion worth of Bitcoin, according to CoinPay vice-president András Lõwy.

After a six-month test period, the service will be available in all cabs, said Budapest Taxi CEO Csaba Horváth.

The company will also launch an application similar to that of ride-sharing company Uber, that will allow customers to travel for a fixed fare.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

MTI photo: Balogh Zoltán