Alternative and Contactless Payments Gain Traction in Hungary, Informs Timetric in Its Topical Report Recently Added at MarketPublishers.com
17 Aug 2016 • by Natalie Aster
LONDON – Nowadays, an uptake of alternative payments is witnessed in Hungary. This is primarily due to the emergence of a number of new payment options in the country. The latest of these is the launch of MasterCard’s (in association with OTP Bank) MasterPass in July of the previous year. The new service allows consumers to store their card details along with billing and shipping address details in one place, and also to make payments and P2P fund transfers.
Furthermore, contactless technology gains traction in Hungary, as payment service providers and banks promote contactless technology and also introduce novel services to spur its uptake. The rising adoption of contactless payments in the country encouraged local merchants to install POS terminals with a contactless payment facility. There were more than 114.8 thousand POS terminals in Hungary at the end of the past year; over 55% of these POS terminals had contactless payment functionality.
Topical report “The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020” elaborated by Timetric gives a granular analysis of the prevailing and emerging trends in the Hungarian market for cards and payments. It uncovers volumes and values for a number of major performance indicators, including cash transactions, payment cards, credit transfers and direct debits, for 2011-2015. The publication contains info on the number of cards in circulation in Hungary as well as transaction volumes and values (historical, present and forecast), explores the domestic cards and payments market dynamics, delves into competitive environment and traces the recent industry changes. Future forecasts through 2020 are at hand in the topical publication.
More reports by this publisher are gives in the Timetric’s catalogue.