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Bank card POS numbers further climb in Q4

In a continuation of recent trends, the number of point-of-sale (POS) bank card terminals in Hungary was up by 9% to 110,000 in Q4 2016, compared to the same period a year earlier, according to data published by the National Bank of Hungary (MNB).

Physical POS terminals grew by 3% in number to 85,300, while the rest of the figure stands for other terminals that were either virtual, used by online retailers, or at post offices.

Since 2010, a tendency of increasing POS bank terminal numbers have been observed. Since then figures grew by 72% by the end of 2016. A little more than three-quarters of the terminals could accept payments from contactless cards.

In an apparent move to encourage wider use of bankcard payments, the Ministry for National Economy announced in January it is making HUF 2.4 billion available as funding for stores to install POS terminals with bankcard payment capability.