OTP said employers transferred HUF 165 billion to employees' accounts in January-June, 30% more than a year earlier. Spending with SZÉP cards issued by OTP jumped 67% to HUF 123 bln from the first half of last year, albeit from a low base. K&H Bank said top-ups for catering balances climbed 24% year-on-year, rose 13% for recreation balances, and were up 3% for commercial accommodations during the period.
Spending with K&H-issued SZÉP cards jumped 55% year-on-year to HUF 11 bln in the first half. Hungary's government expanded tax preferences for SZÉP card top-ups last year as part of coronavirus crisis relief.
Spending restrictions on SZÉP card balances dedicated to catering, commercial accommodations, and recreation have been eliminated until the end of 2021.
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