Research and Markets: Emerging Opportunities in Hungary’s Cards and Payments Industry

Emerging opportunities in Hungary

A report released by Research and Markets sheds light on emerging opportunities in Hungary’s cards and payments industry. Key highlights of the report suggest the card industry in Hungary grew at a CAGR of 0.82% during the review period. The growth was mainly driven by the debit card category which grew at a CAGR of 1.52%.

However, Credit cards declined at a CAGR of -3.70% during the review period, and charge cards at a CAGR of -1.23%. The prepaid card category posted the highest growth during the review period and grew at a CAGR of 9.05%. Growth has been related to the emergence of NFC technology encouraging card use among Hungarian customers.
In Hungary, price, convenience and value-added services are deciding factors when purchasing credit, debit and closed-loop prepaid cards. The Hungarian SEPA Association was established in 2008 and is expected to encourage growth in the cards and payments industry by incorporating SEPA standards.

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