Ministry backs card terminals with HUF 2.4 bln

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In an apparent move to encourage wider use of bank card payments, the Ministry for National Economy is making HUF 2.4 billion available as funding for stores to install POS terminals with bank card payment capability, according to a report by economic daily Világgazdaság.

The program was launched in December, and aims to get 30,200 terminals installed by the end of the year. Should the target be reached, then the 28% increase would mean a total of 140,000 terminals would be available in the country, according to the paper.

The program offers funding of HUF 80,000 each towards decreasing the usage fee of terminal service operators. The ministry expects store owners and customers alike to benefit from the funding.

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