Bank card purchases in Hungary up 25% in Q2

By | September 18, 2017

The value of purchases made in Hungary with locally issued bank cards rose 25% year-on-year to HUF 1,066 billion in the second quarter of 2017, the National Bank of Hungary (MNB) said in a quarterly report published Friday, cited by state news agency MTI.

Card holders made more and higher-value purchases in Hungary with slightly fewer bank cards than a year earlier.

Turnover made via debit cards rose by 27% year-on-year, and their share both in the value and number of purchases rose to about 86% of the total in Q2. Credit card purchases rose by 13% in number and 15% in value during the period.

Contactless payment continued to spread and rose well over the average rate. The number of purchases with contactless cards rose 72%, and the value of such purchases more than doubled, rising to HUF 546 bln. The contactless share of the total rose to two-thirds in terms of transaction numbers and exceeded 50% in terms of value.

The value of purchases made abroad with bank cards issued in Hungary rose 22% to HUF 134 bln, and their number rose 31%, while the number of local purchases climbed 26%.

The number of businesses that accept bank cards rose 9% in one year, to 92,056. These had almost 119,000 point-of-purchase terminals, 13% more than a year earlier. Over 93,700 terminals were suitable for contactless payment, 28% more than in Q2 2016.

The total number of locally issued bank cards dropped 0.4% to 8.96 mln, while the number of contactless payment cards rose 15% year-on-year to 6.06 mln, or 68% of the total.

The number of ATMs grew by 2% to 5,050.

Source: Budapest Business Journal