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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Hungary

Nov 2019

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Executive Summary

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Increased terminal penetration and convenience underpin card use growth

The network of card acceptance terminals has increased in Hungary in recent years. This remains a high priority, and is key to whitening the country’s economy.

Government initiatives contribute to shift away from cash

Leaving home without cash and being reliant on a card to make payments used to be risky, as not all channels accepted card payments. However, the Hungarian Government initiated a HUF2.

Open-loop pre-paid cards face uncertain future

The majority of open-loop pre-paid cards are part of the broad cafeteria programme offered to employees, or voluntary supplementary health funds. These cards offer benefits such as reduced levies on contributions paid to individual accounts, or rebates on personal income tax.

Credit card environment continues to feel effects of Citigroup and American Express withdrawal

The competitive landscape of the Hungarian personal credit card category was transformed in 2017, due to the withdrawal from the category of Citigroup and American Express. Erste Bank Hungary took over Citigroup’s personal credit card clients, as well as other divisions.

Shift away from cash to bolster card environment in coming years

The role of cash remains significant in the Hungarian payment environment, although there are several administrative steps implemented to reduce cash usage – both in terms of personal and commercial environments. The more intense marketing activity of banks and card operators also contributes to more frequent card usage, in addition to the government’s programme to boost card acceptance in retail outlets and other contexts.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments industry in Hungary with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Financial Cards and Payments industry in Hungary, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Hungary market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Hungary?
What are the major operators and issuers in Hungary?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Financial Cards and Payments in Hungary, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Hungary - Industry Overview

EXECUTIVE SUMMARY

Increased terminal penetration and convenience underpin card use growth

Government initiatives contribute to shift away from cash

Open-loop pre-paid cards face uncertain future

Credit card environment continues to feel effects of Citigroup and American Express withdrawal

Shift away from cash to bolster card environment in coming years

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2014-2019
Table 2 Number of ATMs: Units 2014-2019
Table 3 Value Lost to Fraud 2014-2019
Table 4 Card Expenditure by Location 2019
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 6 Domestic versus Foreign Spend 2019

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 8 Financial Cards by Category: Number of Accounts 2014-2019
Table 9 Financial Cards Transactions by Category: Value 2014-2019
Table 10 Financial Cards by Category: Number of Transactions 2014-2019
Table 11 Consumer Payments by Category: Value 2014-2019
Table 12 Consumer Payments by Category: Number of Transactions 2014-2019
Table 13 M-Commerce by Category: Value 2014-2019
Table 14 M-Commerce by Category: % Value Growth 2014-2019
Table 15 Financial Cards: Number of Cards by Issuer 2014-2018
Table 16 Financial Cards: Number of Cards by Operator 2014-2018
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 20 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 21 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 22 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 23 Forecast Consumer Payments by Category: Value 2019-2024
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 25 Forecast M-Commerce by Category: Value 2019-2024
Table 26 Forecast M-Commerce by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources

Charge Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Charge cards available only for corporate clients, set to remain niche offer

Commercial charge cards dominate, personal charge cards lack convenience

Charge cards unappealing as a product concept for small local enterprises

COMPETITIVE LANDSCAPE

Gradual withdrawal of banks from charge cards

American Express focuses on key global corporate clients

Limited demand expected for charge cards over forecast period

Credit Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Smart usage of credit cards promoted to reduce costs

Offers by co-branded partners / rebates remain key credit card selection criteria

Commercial credit cards are unappealing as alternatives offer better deals

COMPETITIVE LANDSCAPE

Mastercard instalments launched in Hungary, offering consumers greater control

Erste – Whizz Air co-branded card – less appealing offers for avid travellers

Reduced portfolio of credit cards and co-branded options

CATEGORY DATA

Table 27 Credit Cards: Number of Cards in Circulation 2014-2019
Table 28 Credit Cards Transactions 2014-2019
Table 29 Credit Cards in Circulation: % Growth 2014-2019
Table 30 Credit Cards Transactions: % Growth 2014-2019
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 32 Commercial Credit Cards Transactions 2014-2019
Table 33 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 34 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 35 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 36 Personal Credit Cards Transactions 2014-2019
Table 37 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 38 Personal Credit Cards Transactions: % Growth 2014-2019
Table 39 Credit Cards: Number of Cards by Issuer 2014-2018
Table 40 Credit Cards: Number of Cards by Operator 2014-2018
Table 41 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 42 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 44 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 47 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 48 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 52 Forecast Credit Cards Transactions 2019-2024
Table 53 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 54 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 56 Forecast Commercial Credit Cards Transactions 2019-2024
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 60 Forecast Personal Credit Cards Transactions 2019-2024
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

A more transparent economy, with less cash in circulation in the payment ecosystem

Larger card terminal networks, more advanced technologies, and internet retailing all drive card usage

Consumers increase use of existing cards rather seeking additional cards

COMPETITIVE LANDSCAPE

Intense marketing activity by Mastercard pushes usage

OTP Bank is the first to launch Apple Pay, but more set to follow

Takarékbank ZRT fully integrates the once independent savings cooperatives

CATEGORY DATA

Table 63 Debit Cards: Number of Cards in Circulation 2014-2019
Table 64 Debit Cards Transactions 2014-2019
Table 65 Debit Cards in Circulation: % Growth 2014-2019
Table 66 Debit Cards Transactions: % Growth 2014-2019
Table 67 Debit Cards: Number of Cards by Issuer 2014-2018
Table 68 Debit Cards: Number of Cards by Operator 2014-2018
Table 69 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 70 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 72 Forecast Debit Cards Transactions 2019-2024
Table 73 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 74 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Subject to frequently changing regulations

Innovation in cards related to current accounts, effective cost controls

Gift cards offer greatest growth potential in closed-loop cards

COMPETITIVE LANDSCAPE

Revolut Ltd enters Hungarian market

Erzsébet Utalvány Plusz card to be withdrawn

Anti-money laundering directive limits potential of open-loop pre-paid cards

CATEGORY DATA

Table 75 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 76 Pre-paid Cards Transactions 2014-2019
Table 77 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 78 Pre-paid Cards Transactions: % Growth 2014-2019
Table 79 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 81 Open Loop Pre-paid Cards Transactions 2014-2019
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 83 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 84 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 85 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 86 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 96 Forecast Pre-paid Cards Transactions 2019-2024
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Megatrends

Country Report

Financial Cards and Payments in Hungary

New Report Guarantee

Executive Summary

New Report Guarantee

Increased terminal penetration and convenience underpin card use growth

Government initiatives contribute to shift away from cash

Open-loop pre-paid cards face uncertain future

Credit card environment continues to feel effects of Citigroup and American Express withdrawal

Shift away from cash to bolster card environment in coming years

Overview

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Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in Hungary - Industry Overview

EXECUTIVE SUMMARY

Increased terminal penetration and convenience underpin card use growth

Government initiatives contribute to shift away from cash

Open-loop pre-paid cards face uncertain future

Credit card environment continues to feel effects of Citigroup and American Express withdrawal

Shift away from cash to bolster card environment in coming years

MARKET INDICATORS

MARKET DATA

DEFINITIONS

SOURCES

Charge Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Charge cards available only for corporate clients, set to remain niche offer

Commercial charge cards dominate, personal charge cards lack convenience

Charge cards unappealing as a product concept for small local enterprises

COMPETITIVE LANDSCAPE

Gradual withdrawal of banks from charge cards

American Express focuses on key global corporate clients

Limited demand expected for charge cards over forecast period

Credit Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Smart usage of credit cards promoted to reduce costs

Offers by co-branded partners / rebates remain key credit card selection criteria

Commercial credit cards are unappealing as alternatives offer better deals

COMPETITIVE LANDSCAPE

Mastercard instalments launched in Hungary, offering consumers greater control

Erste – Whizz Air co-branded card – less appealing offers for avid travellers

Reduced portfolio of credit cards and co-branded options

CATEGORY DATA

Debit Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

A more transparent economy, with less cash in circulation in the payment ecosystem

Larger card terminal networks, more advanced technologies, and internet retailing all drive card usage

Consumers increase use of existing cards rather seeking additional cards

COMPETITIVE LANDSCAPE

Intense marketing activity by Mastercard pushes usage

OTP Bank is the first to launch Apple Pay, but more set to follow

Takarékbank ZRT fully integrates the once independent savings cooperatives

CATEGORY DATA

Pre-Paid Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Subject to frequently changing regulations

Innovation in cards related to current accounts, effective cost controls

Gift cards offer greatest growth potential in closed-loop cards

COMPETITIVE LANDSCAPE

Revolut Ltd enters Hungarian market

Erzsébet Utalvány Plusz card to be withdrawn

Anti-money laundering directive limits potential of open-loop pre-paid cards

CATEGORY DATA

Store Cards in Hungary - Category analysis

HEADLINES

PROSPECTS

Store cards a redundant proposition

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