Euronet, a cash dispenser company that has been active mainly in city centers and near tourist destinations, has entered a new field: they are targeting settlements and neighbourhoods where cash has typically been scarce.
With the rise of digitalisation and online banking, there are fewer and fewer bank branches and ATMs, but cash is still an essential part of our lives, Richárd Frank, Euronet's Director for Hungary is quoted by the business news site napi.hu.
He said the Community ATM Deployment Program was launched so that people living in less frequented neighbourhoods and small towns would not have to travel long distances just to get cash.
Euronet currently has almost 600 ATMs in Hungary. The expansion is driven by the strong demand for cash, as despite the growing popularity of electronic payments, cash continues to dominate in Hungary: 77% of total purchases in 2020 were made in cash, according to data by the National Bank of Hungary.
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