Mastercard Digital Payment Index: Hungary Scores 63

The Mastercard Digital Payment Index (DFI) rose by 12 points over five years, reaching 63 points in Hungary last year, according to Mastercard's latest report released to MTI on Tuesday.

The driving force behind this growth was the efforts of market players to develop digital payment infrastructure, as well as favorable changes in the regulatory environment, they added.

Calculated using the same methodology each year, the index relies on information from public sources (such as central banks), Mastercard's own data and research, and interviews with financial sector experts to determine an indicator of the digital maturity of the entire economy, based on three pillars: infrastructure, knowledge, and usage.

According to the latest report, 2024 was marked by a trend of heavy investment in infrastructure by market players: the score for this pillar rose to 79, which is a slight but steady improvement on the previous year, mainly due to the expansion of payment channels. Mobile wallets became fully accessible, with all issuers allowing Android-based wallet solutions in 2024, and the full integration of Google Pay had a strong impact on the growth in the number of mobile wallet transactions. At the same time, the analysis points out that further expansion of terminals and merchant-side solutions is needed, as about half of the businesses relevant to digital payments still do not accept cards.

The indicator rose by one point to 55 points due to the more intensive use of known digital solutions (contactless card payments, bank transfers). The rate of contactless acceptance rose to nearly 99 percent in 2024. The proportion of digital transfers initiated from bank accounts reached 91%.

The volume and number of card purchases exceeded cash withdrawals from ATMs, but ATM withdrawals still account for more than a third of transactions. According to the report, one-third of the population still receives part of their income in cash.

The Mastercard Digital Payment Index (DFI) rose by 12 points over five years, reaching 63 points in Hungary last year, according to Mastercard's latest report released to MTI on Tuesday.

The driving force behind this growth was the efforts of market players to develop digital payment infrastructure, as well as favorable changes in the regulatory environment, they added.

Calculated using the same methodology each year, the index relies on information from public sources (such as central banks), Mastercard's own data and research, and interviews with financial sector experts to determine an indicator of the digital maturity of the entire economy, based on three pillars: infrastructure, knowledge, and usage.

According to the latest report, 2024 was marked by a trend of heavy investment in infrastructure by market players: the score for this pillar rose to 79, which is a slight but steady improvement on the previous year, mainly due to the expansion of payment channels. Mobile wallets became fully accessible, with all issuers allowing Android-based wallet solutions in 2024, and the full integration of Google Pay had a strong impact on the growth in the number of mobile wallet transactions. At the same time, the analysis points out that further expansion of terminals and merchant-side solutions is needed, as about half of the businesses relevant to digital payments still do not accept cards.

The indicator rose by one point to 55 points due to the more intensive use of known digital solutions (contactless card payments, bank transfers). The rate of contactless acceptance rose to nearly 99 percent in 2024. The proportion of digital transfers initiated from bank accounts reached 91%.

The volume and number of card purchases exceeded cash withdrawals from ATMs, but ATM withdrawals still account for more than a third of transactions. According to the report, one-third of the population still receives part of their income in cash.