Banking, Financial Services & Insurance

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

  • GLO1264851
  • 53 Pages
  • August 2017
  • Banking, Financial Services & Insurance
The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020

Summary

GlobalDatas "The Cards and Payments Industry in Hungary: Emerging Trends and Opportunities to 2020", 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 credit transfers, cash, payment cards and direct debit during the review period (2012-2016).

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 (2016-2020). 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.

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 credit transfers, cash, direct debit 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, credit and charge cards.

Scope

- The uptake of alternative payments among Hungarian consumers is gradually gaining traction, as a result of the emergence of a number of payment options. The latest of these is the launch of mobile carrier billing services by the mobile payments company Fortumo, along with the mobile operator Telenor in November 2016. This new service enables subscribers of Telenor to make payments in app stores, games and digital merchants by charging payments to their mobile phone bill. Previously, in July 2015, Mastercard, in association with OTP Bank, launched MasterPass in Hungary. The banks 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 transfers. 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.
- The uptake of contactless payments among Hungarian consumers is gradually gaining traction, as both banks and payment service providers are launching new solutions in the market. A key driver of contactless payments has been the increasing use of contactless payments in public transport systems. OTP Bank, in association with Mastercard and Magyar Telekom launched a new payment system in March 2015 to enable passengers in Szolnok city to make contactless payments for transportation using Mastercard and Maestro cards.
- In a move to promote electronic payments, the Hungarian government launched the National Mobile Payment System in July 2014, allowing users to pay transportation fees using mobile phones via a national platform. This service allows consumers to make payments for parking, motorway toll stickers and Hu-Go road tolls using the mobile app. Consumers register on the national mobile payment systems website or mobile app managed by Nemzeti Mobilfizetsi, and can transfer funds to their account using payment cards or current accounts. In the one year since its launch, the system registered 17.9 million transactions.

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.
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