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Bank card purchases, payments exceed ATM withdrawals in Q1

The value of domestic purchases and cash payments made with bank cards issued in Hungary rose to HUF 2.1 billion in Q1, topping the HUF 2.06 bln of cash withdrawals made with the cards, data released by the National Bank of Hungary (MNB) on Monday show.

The value of domestic purchases with cards reached HUF 1.75 bln in Q1, climbing 23% from the same period a year earlier, while the value of cash payments with the cards rose 38.7% to almost HUF 350 mln. 

The value of cash withdrawals increased by just 8.4% during the period.

The value of purchases made online, by mail order or over the phone accounted for close to one-fifth of domestic bank card purchases.

Hungarians used locally-issued bank cards to make HUF 280 mln of purchases and withdraw HUF 33 mln in cash from ATMs abroad in Q1.

The number of bank cards stood at 9.58 million at the end of March, up 3.3% from 12 months earlier. Debit cards accounted for 86.8% of the total and credit cards for 13.2%. A little more than 86% of the cards had a contactless payment function.

The number of POS terminals rose 2.8% to 147,908 during the period.

Over 3.81 million people with Hungarian mobile phone subscriptions had contracts that allow them to charge purchases to their balances at the end of March. Just over 60% of those subscribers could charge up HUF 10,000 to their balances to be paid at the end of the billing period.

Mobile phone subscribers had purchases that added up to HUF 9.88 bln on their balances at the end of March.