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New Study: Large Increase In Bankcard Payments For Shopping

• 28 Apr 2021 7:48 AM
• Hungary Around the Clock

The use of bankcards accounted for 22% of all shop payments and 40% of the value of goods purchased in 2020, the MNB found in its study released on Tuesday.

The 5-percentage-point annual increase in the share of bankcard payments to 22% was the largest since cash registers began providing online data to the tax authority from the second half of 2014.

The arrival of the first wave of the pandemic caused a peak in cash withdrawals, amounting to Ft 250 billion in the first eight working days during the lockdown in March, equal to the amount normally withdrawn over five to seven months.

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