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K&H bank card transactions growing

Retail bank card transactions through K&H Bank rose 33% in the first five months of 2017 compared to the equivalent period of last year, according to a press release from the bank. New electronic solutions and applications will further help the spread of electronic payments, the bank added.

During the first five months of this year, K&H Bank customers completed 21.7 million bank card transactions, which represents a 33% growth on a year-on-year basis, said the bank in a press release cited by online business news portal vg.hu.

Turnover grew by 34% to HUF 150 billion compared to the first five months of 2016, and by 84% compared to January-May 2015.

The average spending with a bank card purchase was HUF 6,931, slightly more than last year and 5% more than in the same period of 2015, according to K&H Bank.

Responding to the growing popularity of cash-free payments in Hungary as a whole, K&H Bank is spending a total of HUF 6 bln on developing digital solutions up to 2017.