Pay10 wins Hungary e-money license and enters EU market

Pay10 said its European unit has received an Electronic Money Institution license from Hungary’s central bank, giving the payments platform a regulated launchpad in the European Union. The approval opens the door for consumer and business payment services in Hungary as Pay10 pursues wider expansion across Europe.

Why it matters: - The Electronic Money Institution license gives Pay10 EU Kft a regulated base in Hungary and a formal entry point into the European Union. - Pay10 EU Kft joins a very small group of EMI license holders in Hungary, which can help the company position itself as a trusted payments provider. - The approval supports Pay10’s push to offer interoperable, compliant payment services across Europe and other markets.

What happened: - Pay10 said its European entity, Pay10 EU Kft, received an Electronic Money Institution license from the National Bank of Hungary, also known as Magyar Nemzeti Bank. - The announcement marks Pay10’s official entry into the European Union. - Pay10 said it is preparing a full-scale launch of electronic money and payment services in Hungary for consumers and businesses. - The announcement was dated July 1, 2026.

The details: - Pay10 App is intended to let consumers in Hungary hold and manage money, make online transactions, and pay in stores through Scan & Pay. - The consumer offering also includes local and international transfers and access to everyday financial services through one platform. - Pay10 Biz App is designed for small and medium-size businesses with low-cost payment acceptance, instant settlements, and simplified reconciliation. - The business platform also includes Dynamic QR machines for in-store payments, payment gateway services, and additional financial tools. - Pay10 said its Hungary strategy aligns with Hungary’s Vision 2030 and the National Bank of Hungary’s push for an interoperable, sovereign, innovation-driven alternative payments ecosystem. - The company said its approach builds on efforts to increase adoption of Hungary’s instant payment system, Azonnali Fizetési Rendszer, and its instant mobile payment system, Qvik. - Pay10 said it now operates under 10 regulatory licenses across India, the United Arab Emirates, Bahrain, Morocco, and Hungary. - The company said additional growth initiatives are underway across Egypt, the Gulf Cooperation Council region, and Europe. - Pay10 said it is owned by Eastern Fortune Investments, which it described as the parent company and majority shareholder of the Pay10 entities globally. - Pay10 described each entity as an independent legal and regulated company with its own management, board governance, and operational controls. - Pay10 said its licensed entities operate in India, the UAE, Bahrain, Morocco, and Hungary. - The company provided a link for more information.

Between the lines: - The Hungary license suggests Pay10 is using local regulatory approvals as the starting point for broader European expansion. - The focus on instant payments, QR-based acceptance, and SME tools shows Pay10 is targeting everyday use cases rather than a narrow enterprise-only niche. - The alignment language around MNB priorities indicates Pay10 is trying to position itself as a partner to Hungary’s domestic payments modernization goals.

What's next: - Pay10 said it is preparing the rollout of its consumer and business services in Hungary. - The company said it will look to strengthen local partnerships as it expands in the European Union. - Pay10 said further expansion efforts are planned in Europe, Egypt, and the Gulf region.

The bottom line: - Pay10 now has a regulated foothold in Hungary, and the company is using that approval to build a broader European payments presence.