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

(HUNGARYNEWSWIRE.COM, September 28, 2016 ) 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).

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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.

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The report brings together Publisher'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.

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Report Summary

Publisher'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.

Report 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.

Key Findings

- 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.

Reason 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.

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Priya Sisodia


Source: EmailWire.Com

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