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MNB: Electronic Money Circulation Continues Expansion

MNB

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The expansion of electronic money circulation continued in the third quarter of 2023, according to the latest summary of the National Bank of Hungary (MNB).

The number of transfers, card purchases, and acceptance points all increased, while the number of cash withdrawals decreased.

In the third quarter, mobile wallet solutions recorded the most significant increase of 14% in three months.

The expansion of electronic traffic is demonstrated by the fact that the number of individual HUF transfers increased by a factor of four and their value by 25% compared to the same period of the previous year in the third quarter.

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