K&H Debuts Digital Szép Card

Banking

K&H became the first bank in Hungary to introduce the digital Szép card alongside the classic plastic card, according to a press release sent ot the Budapest Business Journal.

The innovative solution works in a similar way to digital bank cards, i.e. it can be used contactlessly at terminals and for smart device payments at designated acceptance points. 

The launch of the K&H digital Szép card was implemented in cooperation with Mastercard, the financial institution's strategic partner. The innovative service is available to existing and new K&H Szép card holders and customers with a K&H bank account who have a phone with NFC functionality and iOS or Android operating system, or an Apple Watch smartwatch.

The new service does not require a separate contract, as clients just need to assign the card to Apple Wallet or Google Pay in K&H Mobile Banking. The list of digital Szép card acceptance points can be found on the K&H Szép card page, and the number of points is continuously growing, with the entire K&H Szép card acceptance network expected to be covered by mid-2024.

"Today, we do our everyday business through smart devices, so payments with mobile phones and smartwatches are also growing dynamically. In the first 10 months of the year, our customers have already made an average of more than 6,700 smart device payments per hour. Why not the same for Szép cards? As the best digital bank of the year, we have therefore paid special attention to K&H Szép cardholders, so that they can also use this card digitally, i.e. conveniently, with their mobile phone or smartwatch", said Gergő Molnár, head of retail marketing at K&H.    

The introduction of the new payment option could further boost Szép card usage, which has already seen a huge surge in the past month, with amounts credited to K&H Szép cards up 41% and spending up 35% compared to October last year. This was driven by a steady rise in the number of acceptance points - which exceeds 41,000 for the K&H Szép card nationwide.

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