The strategy outlines areas in which policy intervention could be required to better inform the general public, boost the innovative capability of payment service providers, and promote competition while maintaining the current high level of security, as well as to encourage further developments in commerce and bill payments.
MNB noted that the expansion of the network of POS terminals and the rollout of the instant payment system had made cash-free payment a viable alternative in "practically all" payment situations. In 2024, Hungarians will be able to make electronic payments using a QR code at no extra charge, it added.
MNB will use a gauge of "payment development" to measure progress and identify areas that may require intervention.
The watchdog said it would take measures in the interest of achieving strategic goals with regard to payments "only with the close cooperation of affected parties".
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