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Value of Bank Card Payments Climbs 8% in Q1

Banking

The value of payments in Hungary made with locally-issued bank cards climbed 8% year-on-year to HUF 3.719 tln in the first quarter, data released by the National Bank of Hungary (MNB) on Monday show.

The value of cash withdrawals made with the bank cards slipped 4% to HUF 2.098 tln.

The bank cards were used to make HUF 693 bln of purchases abroad, climbing 26% from the same period a year earlier.

The number of brick-and-mortar businesses with POS terminals in Hungary stood at 152,945 at the end of March, up 4% from 12 months earlier. The number of online businesses with POS terminals rose 20% to 53,259.

The number of ATMs in the country edged up 2% to 4,880.

The value of transactions made using mobile bank cards jumped 44% to HUF 75 bln in Q1.

Bank transfers made using Hungary's instant payment system increased by 20% to HUF 13.499 tln.

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