Visa Launches Digital Payment Program in Hungary

Following seven other countries in the region, Visa has launched its digital payment program in Hungary, which aims to support the digitization of Hungarian micro and small businesses already operating in e-commerce or intending to enter the market and make them more competitive, the global payment service provider told MTI on Tuesday.

They explained that the program supports businesses that have not accepted online card payments in the past 12 months or are just starting their e-commerce activities.

Merchants can take advantage of free online card acceptance for six months, while the program also supports e-commerce start-ups and expansion with invoicing, web store creation, inventory management, courier logistics, and digital advertising solutions, discounts, and educational materials.

The three-year initiative is being implemented in cooperation with merchants active in Hungary and partners offering e-commerce solutions, such as Shoprenter, Árukereső, DPD, Boxy, and Számlázz.hu, according to the announcement.

Citing studies, they wrote that Hungarian e-commerce grew by an average of 25% annually between 2018 and 2023, with the total market value expanding to 4.1% of GDP, or around EUR 8 billion.

At the same time, payment habits have also shifted towards digital: while in 2020, barely half of Hungarians (48%) preferred electronic payment, this figure had risen to 69% by the end of 2024. At the same time, consumers expect seamless payment services as well as security.

The payment service provider believes that businesses, especially smaller ones, that are unable to take advantage of e-commerce and digital payments may miss out on reaching new customers and markets, as well as opportunities for international expansion.