Hungary Cards and Payments - Opportunities and Risks to 2027

Hungary Cards and Payments - Opportunities and Risks to 2027

Summary

GlobalData’s 'Hungary Cards and Payments - Opportunities and Risks to 2027' 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, mobile wallets, and direct debits during the review-period (2019–23e).

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 (2023e–27). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’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.

The 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 cash, cards, credit transfers, mobile wallets and direct debits. 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

• Hungary’s banking and debit card space is witnessing consolidation. The merger of Budapest Bank, MKB Bank, and Takarekbank was concluded in April 2023, with the new entity operating as MBH Bank thereafter. As of June 2023, this combined bank had more than 1.5 million retail and 300,000 corporate customers in Hungary. MHB Bank offers a wide range of debit cards for both retail and corporate customers.
• To combat inflation, the central bank has increased its base interest rate. As of June 2023, the interest rate stood at 13% – up from 5.9% in June 2022. Meanwhile, as per the Hungarian Central Statistical Office, household consumption contracted by 2.5% in Q1 2023. With elevated inflation and interest rates squeezing consumer purchasing power, the credit and charge card market will be negatively affected.
• In May 2022, commercial kitchen design company Kende Gastro launched its first automated self-checkout container store using artificial intelligence in Budaors. Cameras installed in-store detect when products are taken from or returned to shelves, keeping track of the products a customer has selected in a virtual cart. At the time of checkout, the bill amount is displayed on the screen. Customers can use a payment card or mobile wallet to make contactless payments.

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 Hungarian cards and payments industry.
• Assess the competitive dynamics in the Hungarian cards and payments industry.
• Gain insights into marketing strategies used for various card types in Hungary.
• Gain insights into key regulations governing the Hungarian cards and payments industry.