Erste rolls out installment option for bank card purchases

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Austrian-owned Erste Bank Hungary on Monday said it will give clients with Mastercard bankcards the option to pay for purchases over HUF 20,000 in installments, according to a report by state news wire MTI.

Image by BalkansCat/Shutterstock.com

Cardholders will be given the option to pay in installments at POS terminals.

The lender noted that close to three-fourths of POS terminals are capable of displaying the option, but the proportion is expected to rise.

Erste noted that experience with its credit card clients, who have been able to pay for purchases in installments for three years, shows people choose the option for purchases between HUF 50,000 and HUF 100,000 when no other credit is available or taking out a consumer loan is too time-consuming.

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