Bank card payments up 19.1% Q2 in Hungary

Fintech

The number of domestic transactions made with bank cards increased 19.1% year-on-year in the second quarter of 2015, while the value of those transactions rose 18.6% y.o.y., MasterCard said today, citing data from the National Bank of Hungary (MNB).

So called PayPass transactions, in which the bank card only needs to be touched to the terminal to transfer money, saw a rise of 27% in number and 35% in value in Q2, as compared to the previous quarter of 2014.

The spread of contactless PayPass transactions have been supported by the growing infrastructure, MasterCard noted.

“MasterCard’s CEE division is a flagship for innovation. Contactless payment is present at the majority of the markets. Transactions with MasterCard® and Maestro® cards have been done with contactless payment in 61% in the Czech Republic, in 41% in Poland with Slovakia and Hungary almost reaching 30%, according to data by MasterCard,” George Simon, ‎President of Central Eastern Europe division at MasterCard, said.

ADVERTISEMENT

Wizz Air issues EUR 500 mln bond Transport

Wizz Air issues EUR 500 mln bond

1,438 new COVID-19 cases registered in Hungary Figures

1,438 new COVID-19 cases registered in Hungary

Gov't to roll out PIT exemption for Hungarians under 25 Government

Gov't to roll out PIT exemption for Hungarians under 25

Tourism nights down 85% y.o.y. in November 2020 Tourism

Tourism nights down 85% y.o.y. in November 2020

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.