Value of Bank Card Purchases Rises 32% in Q4 

Banking

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The value of purchases in Hungary made with locally-issued bank cards climbed 32% year-on-year to HUF 3.584 tln in the fourth quarter, outpacing the increase in cash withdrawals, data released by the National Bank of Hungary (MNB) on Thursday show.

The value of cash withdrawals increased by 8% to HUF 2.477 tln.

Bank cards issued in Hungary were also used to make cash payments of HUF 704 bln during the period, up 25%.

The bank cards were used to make HUF 527 bln of purchases abroad, climbing 38pc from the same period a year earlier.

The number of brick-and-mortar businesses with POS terminals in Hungary stood at 139,310 at the end of December, edging down 3% from 12 months earlier. The number of online businesses with POS terminals jumped 24% to 42,028.

The number of ATMs in the country edged down 4% to 4,706 during the period.

The value of transactions made using mobile bank cards climbed 101% to HUF 541 bln. MNB noted that more than 1.7 million bank cards are registered on mobile wallets.

Bank transfers made using Hungary's instant payment system increased 27% to HUF 12.517 tln in Q4.

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