Bank card payments up 19.1% Q2 in Hungary

Fintech

The number of domestic transactions made with bank cards increased 19.1% year-on-year in the second quarter of 2015, while the value of those transactions rose 18.6% y.o.y., MasterCard said today, citing data from the National Bank of Hungary (MNB).

So called PayPass transactions, in which the bank card only needs to be touched to the terminal to transfer money, saw a rise of 27% in number and 35% in value in Q2, as compared to the previous quarter of 2014.

The spread of contactless PayPass transactions have been supported by the growing infrastructure, MasterCard noted.

“MasterCard’s CEE division is a flagship for innovation. Contactless payment is present at the majority of the markets. Transactions with MasterCard® and Maestro® cards have been done with contactless payment in 61% in the Czech Republic, in 41% in Poland with Slovakia and Hungary almost reaching 30%, according to data by MasterCard,” George Simon, ‎President of Central Eastern Europe division at MasterCard, said.

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