Hungarians would like to use bank cards more during domestic holidays

Banking

People would like to use their bank cards much more often on holiday, but domestic retailers and service providers are not quite ready to do so, according to a recent survey commissioned by OTP Bank.

About 61% of domestic credit card holders have been on holiday in Hungary in the last two years, and nine out of ten of them used their credit card during this time. The most common use of a card or mobile device was in shops (82%), but it was also used in restaurants (72%), to pay for accommodation (63%), to pay for travel (52%) and to pay for entertainment (42%).

The survey results also show that consumers would like to use their cards more often when they go on holiday, but in many cases, retailers and service providers are not prepared to do so. In places where credit card payments are less common, several respondents indicated that they would use their cards more often if they could. Some 22% more people would pay by card at market vendors, 21% more people would pay by card at wellness and sports facilities, and 17% more people would like to pay by card at beaches than during previous holidays.

The gap between people who would like to pay by card and those who actually had the opportunity to do so was 3% in the case of shops and 10% in the case of restaurants. The gap stood at 15% in entertainment outlets, and 16% in hotels.

"It is becoming more and more natural to use a card - it's quick, convenient and secure - so we take our everyday habits with us on holiday. We believe that the summer season will see an even greater demand for electronic payment solutions, as more and more shoppers are looking for shops where they can pay by card, so a successful business is becoming unthinkable without card acceptance," said Noémi Hideg, head of card acceptance services and ATM management at OTP Bank.

OTP Group's electronic payment solutions already include an application that allows merchants to use their mobile phones as POS terminals. With the SimpleBusiness application, a variety of electronic payment options are available, and customers can now be offered contactless card acceptance, QR code and link payments.

The application is recommended by OTP Group for businesses with an annual turnover of less than HUF 30 million or for startups. For higher turnover, the credit institution recommends the application of POS terminals for health insurance, cafeteria, and SZÉP cards in addition to bank cards.

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