Mobile Payments Surge Reported by Bank in Hungary
- 21 Mar 2023 7:22 AM
- Hungary Around the Clock
K&H reported robust growth in payments by smartphones and smart watches last year, which accounted for 20% of all bankcard payments, totalling Ft 25 billion.
The number of such transactions jumped by 250% in 2022, as turnover with the Google Pay, Apple Pay, Garmin Pay and Xiaomi Pay services leaped by 271%, it added.
Detailed data showed that the number of Google Pay transactions rose 3.6-fold from 2021, while transaction value quadrupled.
The number of transactions by Apple phone and smartwatch users doubled and turnover increased by 131%. In December alone, transactions via contactless payment methods exceeded 3.1 million for the first time.
K&H has 640,000 digitally active customers, and 520,000 actively use its mobile bank.
Nine out of ten customers use digital channels, internet banking, and mobile apps to manage their finances.
XpatLoop Media Partner
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