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Number of Mobile Wallet Transactions Skyrocketing

Fintech

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The number and value of mobile wallet payment transactions connected to domestically issued bank cards are rising spectacularly, writes business daily Világgazdaság.

If the trend continues, the number of purchases made with the card may decrease drastically in a few years.

According to data from the National Bank of Hungary (MNB), the number of bank cards issued in Hungary and registered in mobile wallets exceeded 1.5 million during the second quarter, which is a 70% increase compared to the 895,000 a year earlier.

According to MNB statistics, the number of plastics registered in mobile wallets increased by 130,000, 9.3%, in the second quarter alone. 

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