Executive Summary

Nov 2019
PROSPECTS
Subject to frequently changing regulations

The market of pre-paid cards related to fringe benefits has changed radically as of 2019, as this category is highly dependent on taxation regulation related to fringe and personal income tax benefits. The Széchenyi Pihenokártya remains in the favourable/preferred tax category as of 2019, and consequently this form of fringe benefit is likely to become even more popular in future.

Innovation in cards related to current accounts, effective cost controls

There is a blurring of the line between open-loop pre-paid cards, and cards issued to commercial current accounts represent the next big thing in the pre-paid environment. It is highly desirable to reduce cash transactions in corporate accounting, and therefore companies look for transparent and cost-effective tools to manage out-of-pocket expenses, and replace petty cash with card payments.

Gift cards offer greatest growth potential in closed-loop cards

The growth and usage prevalence of closed-loop pre-paid cards is highly dependent on the marketing activity of retailers, which potentially represent the largest gift card issuers. The gift card market remains in its infancy.

COMPETITIVE LANDSCAPE
Revolut Ltd enters Hungarian market

Revolut Ltd had acquired approximately 50,000 customers by the end of 2018, and extensive growth is expected over the forecast period, as Hungarian currency accounts are also available as of May 2019. Growth is fuelled by strong word-of-mouth recommendations, social media coverage, and blog posts.

Erzsébet Utalvány Plusz card to be withdrawn

This widely used fringe benefit card is set to lose its appeal, as a new tax code took effect as of 1 January 2019. The cards previously issued will remain in circulation until the end of 2019, and debited amounts will be accepted as before during 2019.

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

Open-loop pre-paid cards were relaunched by Mastercard International in 2017 to grow the category, due to its considerable potential, covering various usage occasions, such as gifting and controlling expenses within an allocated budget. Certain customer groups, including helping students to manage finances and allowances, was also a sizeable demographic considered.

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Pre-Paid Cards in Hungary

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Overview

Discover the latest market trends and uncover sources of future market growth for the Pre-Paid Transactions 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 Pre-Paid Transactions industry in Hungary, our research will save you time and money while empowering you to make informed, profitable decisions.

The Pre-Paid Transactions in Hungary market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • 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 Pre-Paid Transactions in Hungary?
  • What are the major operators and issuers in Hungary?
  • What is the current state and expected evolution of consumer payment preference?
  • What payment instrument offers the highest growth potential?
  • What strategies and positioning have consumer finance companies utilized to win in the market?
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 Pre-Paid Transactions in Hungary, originate from our database within our Consumer Finance market share and market size database

Charge Cards in Hungary - Category analysis

Charge Cards in Hungary - Company Profile

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

Credit Cards in Hungary - Company Profile

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 1 Credit Cards: Number of Cards in Circulation 2014-2019
Table 2 Credit Cards Transactions 2014-2019
Table 3 Credit Cards in Circulation: % Growth 2014-2019
Table 4 Credit Cards Transactions: % Growth 2014-2019
Table 5 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 6 Commercial Credit Cards Transactions 2014-2019
Table 7 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 8 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 9 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 10 Personal Credit Cards Transactions 2014-2019
Table 11 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 12 Personal Credit Cards Transactions: % Growth 2014-2019
Table 13 Credit Cards: Number of Cards by Issuer 2014-2018
Table 14 Credit Cards: Number of Cards by Operator 2014-2018
Table 15 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 16 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 17 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 18 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 19 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 20 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 21 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 22 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 23 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 24 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 25 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 26 Forecast Credit Cards Transactions 2019-2024
Table 27 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 28 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 29 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 30 Forecast Commercial Credit Cards Transactions 2019-2024
Table 31 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 32 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 33 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 34 Forecast Personal Credit Cards Transactions 2019-2024
Table 35 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 36 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Hungary - Category analysis

Debit Cards in Hungary - Company Profile

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 37 Debit Cards: Number of Cards in Circulation 2014-2019
Table 38 Debit Cards Transactions 2014-2019
Table 39 Debit Cards in Circulation: % Growth 2014-2019
Table 40 Debit Cards Transactions: % Growth 2014-2019
Table 41 Debit Cards: Number of Cards by Issuer 2014-2018
Table 42 Debit Cards: Number of Cards by Operator 2014-2018
Table 43 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 44 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 45 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 46 Forecast Debit Cards Transactions 2019-2024
Table 47 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 48 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Hungary - Category analysis

Pre-Paid Cards in Hungary - Company Profile

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 49 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 50 Pre-paid Cards Transactions 2014-2019
Table 51 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 52 Pre-paid Cards Transactions: % Growth 2014-2019
Table 53 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 54 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 55 Open Loop Pre-paid Cards Transactions 2014-2019
Table 56 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 57 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 58 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 59 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 60 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 61 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 62 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 63 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 64 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 65 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 66 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 67 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 68 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 69 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 70 Forecast Pre-paid Cards Transactions 2019-2024
Table 71 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 72 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 73 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 74 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 75 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 76 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Store Cards in Hungary - Category analysis

Store Cards in Hungary - Company Profile

HEADLINES

PROSPECTS

Store cards a redundant proposition

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 77 Number of POS Terminals: Units 2014-2019
Table 78 Number of ATMs: Units 2014-2019
Table 79 Value Lost to Fraud 2014-2019
Table 80 Card Expenditure by Location 2019
Table 81 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 82 Domestic versus Foreign Spend 2019

MARKET DATA

Table 83 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 84 Financial Cards by Category: Number of Accounts 2014-2019
Table 85 Financial Cards Transactions by Category: Value 2014-2019
Table 86 Financial Cards by Category: Number of Transactions 2014-2019
Table 87 Consumer Payments by Category: Value 2014-2019
Table 88 Consumer Payments by Category: Number of Transactions 2014-2019
Table 89 M-Commerce by Category: Value 2014-2019
Table 90 M-Commerce by Category: % Value Growth 2014-2019
Table 91 Financial Cards: Number of Cards by Issuer 2014-2018
Table 92 Financial Cards: Number of Cards by Operator 2014-2018
Table 93 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 94 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 95 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 96 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 97 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 98 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 99 Forecast Consumer Payments by Category: Value 2019-2024
Table 100 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 101 Forecast M-Commerce by Category: Value 2019-2024
Table 102 Forecast M-Commerce by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources