Digital Payments Surge as Virtual Cards Gain Ground in Hungary

Hungarians are increasingly embracing digital payment methods, with 93% of the population now owning a bank card, according to new research by Gránit Bank. The study highlights the growing shift from cash to digital transactions, a trend mirrored across Europe.

While traditional card payments remain the dominant method, one in ten Hungarian bank customers already use single-use virtual cards for online shopping to boost security. The research also found that two-thirds of respondents prefer using bank cards for everyday purchases in stores.

Digital payments — from contactless and mobile transactions to virtual cards — are becoming the norm. The survey found that 65% of Hungarians favor digital payment options, underscoring a clear move toward cashless habits. Cash remains in circulation, however, particularly among older consumers and residents of smaller towns.

Globally, the trend aligns with broader shifts: the share of cash payments in the euro area dropped from 72% in 2019 to 59% in 2022, according to the European Central Bank. Meanwhile, mobile wallet adoption worldwide is projected to surpass 5.5 billion users by 2028, data from Statista shows, signaling rapid digitization of everyday finance.

When it comes to online shopping, nearly half of Hungarian customers pay with debit or credit cards, while 10% use single-use virtual cards and 8% rely on reusable virtual cards for added safety. Among Gránit Bank’s clients — a particularly digital-savvy group — one in three now use disposable virtual cards, a figure that far exceeds the national average.

To further strengthen online payment security, Gránit Bank recently launched a free virtual card service that allows customers to create a temporary card in seconds via its mobile app.

“The single-use virtual card significantly enhances online payment security and protects customers from increasingly common fraud attempts,” Péter Jendrolovics, Deputy CEO and Head of Retail Banking at Gránit Bank. told news portal portfolio.hu. “We are deeply committed to both innovation and customer protection — this is why we introduced cross-identification technology to block phishing phone scams.”

The bank claims the system offers complete protection against common fraud types, including subscription traps where consumers unknowingly authorize recurring payments due to unclear terms.

As Hungarian consumers shift toward safer, digital-first payment habits, the country’s fintech ecosystem is catching up with Western European standards. If the trend continues, Hungary may soon join the ranks of Europe’s most digitally advanced banking markets, where over 90% of payments are already cashless.