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The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020

The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020' report provides a 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 payment cards, cash transactions, direct debits and credit transfers during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together Timetric’s 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.

Summary

Timetric’s 'The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020' 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 and pay later cards.
  • Detailed insights into payment instruments including credit transfers, direct debits, cash transactions and payment cards. 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 and pay later cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape in the Hungarian cards and payments industry.
Scope
  • This report provides a comprehensive analysis of the Hungarian cards and payments industry.
  • It provides current values for the industry for 2015, and forecast figures to 2020.
  • It details the different demographic, economic, infrastructural and business drivers affecting the Hungarian cards and payments industry.
  • It outlines the current regulatory framework in the industry.
  • It details marketing strategies used by various banks and other institutions.
Reasons To Buy
  • Make strategic business decisions, using top-level historic and forecast market data related to the Hungarian cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the industry.
  • Assess the competitive dynamics in the industry.
  • Gain insights into marketing strategies used for various card types in Hungary.
  • Gain insights into key regulations governing the industry.
Key Highlights
  • Contactless technology is expected to gain prominence among Hungarian consumers, as banks and payment service providers promote contactless technology and launch new services to increase its uptake. In March 2015, OTP Bank, in association with MasterCard and Magyar Telekom, launched a new payment system to enable passengers in Szolnok city to make contactless payments for their transportation using their MasterCard and Maestro cards. The growing adoption of contactless payments has also encouraged merchants to install POS terminals with a contactless payment facility. At the end of 2015, there were 114,881 POS terminals, of which 63,298 (55.1%) had contactless payment functionality.
  • The uptake of alternative payments among Hungarian consumers is gaining traction, as a result of the emergence of a number of payment options. The latest of these is the launch of MasterPass by MasterCard, in association with OTP Bank, in July 2015. The bank’s OTPay mobile wallet integrates the MasterPass app, which allows consumers to store their payment card details and shipping and billing address details in one place. This service enables OTPay consumers to make payments and person-to-person (P2P) fund transfer. Customers of other banks can also use the MasterPass platform for payments. Previously, in May 2015, Vodafone Hungary launched the Vodafone Wallet app in association with OTP Bank and MasterCard. Similarly, in February 2014, OTP Bank, in collaboration with MasterCard and the app developer Cellum, introduced the digital wallet service OTPay in February 2014.
  • Mobile payments are also entering the country’s transportation sector. The Hungarian government launched the National Mobile Payment System for paying transportation-related fees throughout the country through mobile phones in July 2014. This service allows consumers to make payment for parking, motorway toll stickers and Hu-Go road toll using the mobile app. Consumers need to register at the national mobile payment system’s website/mobile app managed by Nemzeti Mobilfizetési, and can transfer funds to their account using their payment cards or current accounts. This service is expected to capture wider transportation payment, with the purchase of railway tickets and public transportation payments by 2017.


  • Definitions and Methodology
    • Definitions
      • Table Key Definitions
    • Methodology
      • Table Annual Average Exchange Rate
  • Key Facts and Events
    • Table Hungary - Key Facts, 2015
    • Table Regional Benchmarking of Hungary's Payment Cards, 2015
  • Executive Summary
  • Payment Instruments
    • Current Payment Environment
  • E-Commerce
    • E-Commerce Market Analysis
  • Alternative Payments
    • Alternative Payment Solutions
      • MasterPass
      • PayPal
      • OTPay
      • Paysafecard
      • Vodafone Wallet
      • Telekom MobilTárca
      • DIMOCO carrier billing
  • Regulations in the Cards and Payments Industry
    • Regulatory Framework
      • SEPA cards framework
      • Hungarian financial transaction tax
      • Anti-money laundering (AML) framework
    • Foreign Direct Investment Regulations
      • Table Hungary - Mode of Entry of Foreign Banks
  • Analysis of Cards and Payments Industry Drivers
    • Demographic and Economic Drivers
    • Infrastructure and Business Drivers
  • Payment Cards
    • Payment Cards Market Analysis
      • Volume and value of payment card transactions by type
  • Debit Cards
    • Debit Card Market Analysis
      • Table Hungary - Visa Multi-Lateral Interchange Fees, 2016
      • Table Hungary - MasterCard Consumer and Commercial Card Interchange Fees, 2016
      • Turnover per debit card and transaction values by channel
      • Debit card scheme and issuer shares in terms of transaction value
      • Debit cards comparison
        • Table Hungary - Debit Cards Comparison and Key Features, 2016
  • Pay Later Cards
    • Pay Later Cards Market Analysis
      • Table Hungary - MasterCard Consumer and Commercial Card Interchange Fees, 2016
      • Table Hungary - Visa Multi-Lateral Interchange Fees, 2016
      • Turnover per pay later card and transaction values by channel
      • Pay later cards scheme and issuer shares in terms of transaction value
      • Pay later cards comparison
        • Table Hungary - Gold Credit Cards Comparison and Key Features, 2016
        • Table Hungary - Premium Credit Cards Comparison and Key Features, 2016
        • Table Hungary - Charge Cards Comparison and Key Features, 2016
  • Commercial Pay Later Cards
    • Commercial Pay Later Card Market Analysis
      • Commercial pay later cards comparison
        • Table Hungary - Commercial Pay Later Cards Comparison and Key Features, 2015
  • Appendix
    • Tables
      • Table Hungary - Payment Instrument Transaction Values (HUF Trillion), 2011-2015
      • Table Hungary - Payment Instrument Transaction Values (US$ Billion), 2011-2015
      • Table Hungary - Payment Instrument Transaction Volumes (Million), 2011-2015
      • Table Hungary - Number of Payment Cards in Circulation by Type (Million), 2011-2020
      • Table Hungary - Volume of Payment Card Transactions by Type (Million), 2011-2020
      • Table Hungary - Value of Payment Card Transactions by Type (HUF Billion), 2011-2020
      • Table Hungary - Value of Payment Card Transactions by Type (US$ Billion), 2011-2020
      • Table Hungary - Number of Debit Cards in Circulation (Million), 2011-2020
      • Table Hungary - Debit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hungary - Debit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hungary - Number of Debit Cards in Circulation by Scheme (Million), 2011-2015
      • Table Hungary - Debit Card Transaction Values by Scheme (HUF Billion), 2011-2015
      • Table Hungary - Debit Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Hungary - Debit Card Transaction Values by Issuer (HUF Billion), 2011-2015
      • Table Hungary - Debit Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Hungary - Number of Pay Later Cards in Circulation (Million), 2011-2020
      • Table Hungary - Pay Later Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hungary - Pay Later Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hungary - Number of Pay Later Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Hungary - Pay Later Card Transaction Values by Scheme (HUF Billion), 2011-2015
      • Table Hungary - Pay Later Card Transaction Values by Scheme (US$ Billion), 2011-2015
      • Table Hungary - Pay Later Card Transaction Values by Issuer (HUF Billion), 2011-2015
      • Table Hungary - Pay Later Card Transaction Values by Issuer (US$ Billion), 2011-2015
      • Table Hungary - Number of Credit Cards in Circulation (Million), 2011-2020
      • Table Hungary - Credit Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hungary - Credit Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hungary - Number of Credit Cards in Circulation By Scheme (Thousand), 2011-2015
      • Table Hungary - Credit Card Transaction Values By Scheme (HUF Billion), 2011-2015
      • Table Hungary - Credit Card Transaction Values By Scheme (US$ Billion), 2011-2015
      • Table Hungary - Number of Charge Cards in Circulation (Thousand), 2011-2020
      • Table Hungary - Charge Card Transaction Volumes and Frequency by Channel, 2011-2020
      • Table Hungary - Charge Card Total and Average Transaction Values by Channel, 2011-2020
      • Table Hungary - Number of Charge Cards in Circulation by Scheme (Thousand), 2011-2015
      • Table Hungary - Charge Card Transaction Values by Scheme (HUF Billion), 2011-2015
      • Table Hungary - Charge Card Transaction Values by Scheme (US$ Million), 2011-2015
      • Table Hungary - Personal and Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
      • Table Hungary - Personal and Commercial Pay Later Card Transaction Values (HUF Billion), 2011-2020
      • Table Hungary - Personal and Commercial Pay Later Card Transaction Values (US$ Billion), 2011-2020
      • Table Hungary - Number of Commercial Pay Later Cards in Circulation (Thousand), 2011-2020
      • Table Hungary - Commercial Pay Later Card Transaction Values (HUF Billion), 2011-2020
      • Table Hungary - Commercial Pay Later Card Transaction Values (US$ Million), 2011-2020
      • Table Hungary - Commercial Pay Later Card Transaction Volumes (Million), 2011-2020
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