Hungary Cards and Payments: Opportunities and Risks to 2028

The ‘Hungary Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Hungary cards and payments industry, including :

• Current and forecast values for each market in the Hungary cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cards, cash, credit transfers, and direct debits. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Hungary cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Hungary cards and payments industry.

The ‘Hungary Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Hungary cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, cash, credit transfers, and direct debits during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

Key Highlights

• In a bid to accelerate the shift towards electronic payments and reduce the share of cash, the central bank of Hungary is taking several initiatives as part of the ‘’Electronic Payments Strategy 2030”. This program aims to transition citizens towards cashless transactions by developing a payment infrastructure, increasing the card payment acceptance network, increasing financial inclusion, promoting innovative and cost-effective digital payments such as QR codes, as well as enhancing the security of digital payments.
• Contactless payments are gradually gaining traction in the country. In November 2022, the Hungarian transit authority, BKK, partnered with Mastercard, technology company, Monet+, and K&H Bank, to launch the contactless payments on the country’s airport shuttle bus line. Following the partnership, BKK initiated the open-loop contactless payments solution pilot across 100 airport shuttle buses in Budapest in September 2023. Commuters can now make contactless payments using their payment cards, as well as mobile wallets such as Google Pay and Apple Pay.
• Following the European regulation, member countries offer basic bank accounts to citizens, offering basic features including a debit card, cash withdrawals, and payment transfers. Furthermore, to promote financial inclusion and electronic payments, starting from July 1, 2023, the Hungarian government reduced the maximum monthly fee for basic bank accounts from 1.5% to 0.5%. Additionally, there are no additional charges for both online and in-store shopping transactions, bill payments and money transfers.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Hungary along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cash, cards, credit transfers, and direct debits.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Hungary cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Hungary cards and payments industry.
• Assess the competitive dynamics in the Hungary cards and payments industry.
• Gain insights into marketing strategies used for various card types in Hungary.
• Gain insights into key regulations governing the Hungary cards and payments industry.