ADVERTISEMENT

Bank card purchases in Hungary up 25% in Q2

In Hungary

The value of purchases made in Hungary with locally issued bank cards rose 25% year-on-year to HUF 1,066 billion in the second quarter of 2017, the National Bank of Hungary (MNB) said in a quarterly report published Friday, cited by state news agency MTI.

Card holders made more and higher-value purchases in Hungary with slightly fewer bank cards than a year earlier.

Turnover made via debit cards rose by 27% year-on-year, and their share both in the value and number of purchases rose to about 86% of the total in Q2. Credit card purchases rose by 13% in number and 15% in value during the period.

Contactless payment continued to spread and rose well over the average rate. The number of purchases with contactless cards rose 72%, and the value of such purchases more than doubled, rising to HUF 546 bln. The contactless share of the total rose to two-thirds in terms of transaction numbers and exceeded 50% in terms of value.

The value of purchases made abroad with bank cards issued in Hungary rose 22% to HUF 134 bln, and their number rose 31%, while the number of local purchases climbed 26%.

The number of businesses that accept bank cards rose 9% in one year, to 92,056. These had almost 119,000 point-of-purchase terminals, 13% more than a year earlier. Over 93,700 terminals were suitable for contactless payment, 28% more than in Q2 2016.

The total number of locally issued bank cards dropped 0.4% to 8.96 mln, while the number of contactless payment cards rose 15% year-on-year to 6.06 mln, or 68% of the total.

The number of ATMs grew by 2% to 5,050.

ADVERTISEMENT

OECD projects Hungary GDP growth will slow to 5% in 2022 Analysis

OECD projects Hungary GDP growth will slow to 5% in 2022

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.