Payments Landscape in Hungary offers information on the country’s competitive landscape and Market Shares of Schemes

Posted on 2019-05-02 by Mark Hub in Industrial // 0 Comments

Albany, US, 2019-May-02 — /EPR Network/ —The global market status for Payments Landscape in Hungary is precisely examined through a smart research report added to the broad database managed by Market Research Hub (MRH). This study is titled “Payments Landscape in Hungary”: Opportunities and Risks to 2022, which tends to deliver in-depth knowledge associated to the Payments Landscape in Hungary for the present and forecasted period until 2022. Furthermore, the report examines the target market based on market size, revenue and geography; making it quite useful for the readers.

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Payments Landscape in Hungary: Opportunities and Risks to 2022

Summary

GlobalDatas “Payments Landscape in Hungary: Opportunities and Risks to 2022”, report provides detailed analysis of market trends in the Hungarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, and direct debits during the review-period (2014-18e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the Hungarian cards and payments industry, including –
– Current and forecast values for each market in the Hungarian cards and payments industry, including debit, credit and charge cards.
– Detailed insights into payment instruments including credit transfers, direct debits, cards, and cash. It also, includes an overview of the country’s key alternative payment instruments.
– E-commerce market analysis.
– Analysis of various market drivers and regulations governing the Hungarian cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Scope
– To further accelerate the provision of basic financial services to under-banked consumers, in September 2016 the Hungarian government directed banks to compulsorily offer basic bank accounts in compliance with an EU directive. The government decree outlines the services available to account holders, and caps the monthly fee at 1.5% of the minimum wage, or HUF1,575 ($5.62). Following the central banks mandate to offer basic bank accounts, all major banks – including OTP Bank, Budapest Bank and K&H Bank (a subsidiary of KBC Bank) – now offer low-cost basic bank accounts. Additionally, in October 2016, the government launched a new account-switching service to make switching current accounts faster and easier.
– The Hungarian instant payment service is scheduled to go live in July 2019. The Hungarian financial services provider GIRO Zrt will implement the platform in partnership with Nets A/S group. The system will process credit transfers and other payments within a maximum of five seconds on a 24/7/365 basis. Through the new system it will be possible to initiate payments of up to HUF10m ($35,707.49), and make payments using the recipients email address, mobile phone number or tax identification number, without having to know their bank account number.

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Table of Contents
Market Overview
Executive Summary
Card-based Payments
E-commerce Payments
Alternative Payments
Payment Innovations
Payments Infrastructure & Regulation
Appendix

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