Last year, nearly three billion electronic payment transactions were carried out in Hungary, up from 2.5 billion the previous year, while the proportion of users of electronic payment solutions and businesses accepting such transactions is also steadily rising.
That is according to Miklós Luspay, Director of the Financial Infrastructures and Payment Systems Directorate at the Hungarian National Bank (MNB), at a briefing on Monday presenting the central bank’s annual Payment Systems Report.
The share of electronic payments in total payment transactions rose to 46% last year from 42% percent the previous year; the MNB’s goal is for this figure to reach 60–67% by 2030. The share of electronic payments stood at 16% in 2017 and 27% in 2020.
The share of electronic purchases was highest in Budapest, both in terms of number of transactions and value, at 62% and 70%, respectively. Last year, the share of online purchases by value reached 51%, which is 10 percentage points higher than the EU average. In about half of all stores, more customers paid electronically than with cash, while this share was around 20% in 2021.
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