Value of Bank Card Purchases Rises 31% in Q1

Banking

The value of purchases in Hungary made with locally-issued bank cards climbed 31% year-on-year to HUF 3.435 tln in the first quarter, while the value of cash withdrawals fell, data released by the National Bank of Hungary (MNB) on Thursday show.

The value of cash withdrawals edged down 2% to HUF 2.184 tln.

Bank cards issued in Hungary were also used to make cash payments of HUF 671 bln during the period, up 26%.

The bank cards were used to make HUF 550 bln of purchases abroad, climbing 37% from the same period a year earlier.

The number of brick-and-mortar businesses with POS terminals in Hungary stood at 145,662 at the end of March, practically level with the number twelve months earlier. The number of online businesses with POS terminals rose 18% to 44,321.

The number of ATMs in the country inched down 2% to 4,769 during the period.

The value of transactions made using mobile bank cards climbed 88% to HUF 549 bln.

Bank transfers made using Hungary's instant payment system increased by 17% to HUF 11.272 tln in Q1.

ADVERTISEMENT

Varga: Gov't Respects MNB's Independence MNB

Varga: Gov't Respects MNB's Independence

Hungary Makes Proposals to Ease Administrative Burden for EU... EU

Hungary Makes Proposals to Ease Administrative Burden for EU...

Money Motion 2024: The Future of FinTech Unfolds in Zagreb Fintech

Money Motion 2024: The Future of FinTech Unfolds in Zagreb

Investors of the Year in Limelight at Hipa’s Award Ceremony Awards

Investors of the Year in Limelight at Hipa’s Award Ceremony

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.