Gov’t allocates HUF 2.4 bln in subsidies for bank card terminals

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Hungary’s government has allocated HUF 2.4 billion in support for “several tens of thousands” of point-of-sale bankcard terminals for small businesses, state secretary for financial affairs Ágnes Hornung told Hungarian news agency MTI yesterday.

The subsidies will go mainly to businesses that don’t yet offer customers the chance to pay by card, Hornung said.

A government decree published on Tuesday offers businesses an HUF 80,000 subsidy for every POS bank card terminal they buy. The subsidies will be awarded for the purchase of as many as 10,000 bankcard terminals, according to the decree.

Boosting the number of bankcard transactions, rather than cash, fits with government measures to crack down on tax evasion.

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