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Analysis: Electronic Payments Rise Steeply in Hungary - Is Cash Dying?

Analysis: Electronic Payments Rise Steeply in Hungary - Is Cash Dying?

  • 18 Jul 2025 5:15 PM
  • finance
The number of electronic payments in Hungary climbed over 2.5 billion in 2024 to account for 42pc of all domestic transactions, an annual report released by the National Bank of Hungary (NBH) shows.
'Central Fraud Detection System' Rolled Out by National Bank of Hungary

'Central Fraud Detection System' Rolled Out by National Bank of Hungary

  • 1 Jul 2025 4:37 PM
  • finance
The National Bank of Hungary (NBH) on Tuesday announced the launch of the first phase of a central fraud detection system.
Low-Cost Bank Accounts Coming Soon in Hungary

Low-Cost Bank Accounts Coming Soon in Hungary

Low-cost, “basic” bank accounts, with a monthly fee of Ft 1,000 will be available from July 1, as defined by a government decree, the MNB affirmed.
Transferwise To Lower Fees In Hungary

Transferwise To Lower Fees In Hungary

As Transferwise has joined Hungary’s instant money transfer system, its transaction costs have dropped by about half from the earlier average fee of Ft 208 per transfer, founder and CEO Kristo Käärmann said on Tuesday.
TransferWise Joins Instant Payment System In Hungary

TransferWise Joins Instant Payment System In Hungary

International money transfer provider TransferWise received direct access to the Hungarian banking sector’s instant payment system on September 1, the fintech company announced on Wednesday.
OTP Hungary Rolls Out New Payment Option

OTP Hungary Rolls Out New Payment Option

OTP and its fintech unit OTP Mobil have rolled out a new mobile payment method based on instant payments that reads QR codes, the bank announced on Monday.
Electronic Payments Dramatically More Popular In Hungary

Electronic Payments Dramatically More Popular In Hungary

The coronavirus epidemic, along with the launch of the instant transfer system, is helping to increase the spread of electronic payments, Magyar Hírlap writes, citing Money.hu analyst Erika Trencsán.
Hungarian Banks Launch Instant Payments

Hungarian Banks Launch Instant Payments

The instant payments system will become available at Hungarian banks from Monday, with domestic bank transfers booked in 5 seconds instead of the current maximum of four hours.
Instant Bank Transfers Start On 2 March In Hungary

Instant Bank Transfers Start On 2 March In Hungary

Instant bank transfers will go into effect on March 2, MNB director Lajos Bartha announced on Wednesday.
Analysis: Electronic Payments Rise Steeply in Hungary - Is Cash Dying?

Analysis: Electronic Payments Rise Steeply in Hungary - Is Cash Dying?

  • 18 Jul 2025 5:15 PM
  • finance
The number of electronic payments in Hungary climbed over 2.5 billion in 2024 to account for 42pc of all domestic transactions, an annual report released by the National Bank of Hungary (NBH) shows.
'Central Fraud Detection System' Rolled Out by National Bank of Hungary

'Central Fraud Detection System' Rolled Out by National Bank of Hungary

  • 1 Jul 2025 4:37 PM
  • finance
The National Bank of Hungary (NBH) on Tuesday announced the launch of the first phase of a central fraud detection system.
Low-Cost Bank Accounts Coming Soon in Hungary

Low-Cost Bank Accounts Coming Soon in Hungary

Low-cost, “basic” bank accounts, with a monthly fee of Ft 1,000 will be available from July 1, as defined by a government decree, the MNB affirmed.
Transferwise To Lower Fees In Hungary

Transferwise To Lower Fees In Hungary

As Transferwise has joined Hungary’s instant money transfer system, its transaction costs have dropped by about half from the earlier average fee of Ft 208 per transfer, founder and CEO Kristo Käärmann said on Tuesday.
TransferWise Joins Instant Payment System In Hungary

TransferWise Joins Instant Payment System In Hungary

International money transfer provider TransferWise received direct access to the Hungarian banking sector’s instant payment system on September 1, the fintech company announced on Wednesday.
OTP Hungary Rolls Out New Payment Option

OTP Hungary Rolls Out New Payment Option

OTP and its fintech unit OTP Mobil have rolled out a new mobile payment method based on instant payments that reads QR codes, the bank announced on Monday.
Electronic Payments Dramatically More Popular In Hungary

Electronic Payments Dramatically More Popular In Hungary

The coronavirus epidemic, along with the launch of the instant transfer system, is helping to increase the spread of electronic payments, Magyar Hírlap writes, citing Money.hu analyst Erika Trencsán.
Hungarian Banks Launch Instant Payments

Hungarian Banks Launch Instant Payments

The instant payments system will become available at Hungarian banks from Monday, with domestic bank transfers booked in 5 seconds instead of the current maximum of four hours.
Instant Bank Transfers Start On 2 March In Hungary

Instant Bank Transfers Start On 2 March In Hungary

Instant bank transfers will go into effect on March 2, MNB director Lajos Bartha announced on Wednesday.