OTP Q1 Electronic Payments up 35% y.o.y.

Banking

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The turnover of electronic payments processed in OTP Bank's systems fell by 5.5% in the first three months of the year, compared to the previous quarter, but increased by 34.9% year-on-year, in which inflation played a significant role, writes profitline.hu.

According to OTP, there was a 6.4% decrease in the number of transactions in a quarterly comparison but an annual increase of around 17%.

The number of POS terminals increased by 1.9% and 8.6% on a quarterly and annual basis, respectively.

The bank pointed out that its SimpleBusiness application saw a 161% increase in traffic on a quarterly basis and an 816% increase on an annual basis.

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