Value of bank card purchases up, but still below cash
The value of Hungarian purchases with bank cards continued to climb in the double-digits in the second quarter, but the value of cash withdrawals made with those cards still exceeded purchases by almost one-third, data released by the National Bank of Hungary (MNB) shows, state news wire MTI reports.
The value of purchases made in Hungary with domestically issued bank cards rose 21% year-on-year to HUF 1.609 trillion in Q2. The value of cash withdrawals made with those cards increased 6% to HUF 2.124 tln during the period.
The number of POS terminals at brick-and-mortar businesses in Hungary grew 4% to 147,100. About 87% of these could accept contactless payment.
The number of businesses accepting payment by bank card online increased 23% to 12,500.
The value of purchases made aboard with domestically issued bank cards jumped 33% to HUF 240.5 billion.
Hungarian financial institutionsʼ revenue from providing payment services came to HUF 145.7 bln in Q2, up more than 10% from the same period a year earlier.
Fixed payments for payment services generated HUF 47 bln of total payment services revenue in Q2. Transaction-based revenue came to HUF 25.6 bln and revenue based on the value of transactions reached HUF 73.1 bln.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.