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

Published By :

GlobalData

Published Date : Dec 2016

Category :

Cards & Payments

No. of Pages : N/A

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.
Table of Contents
1. EXECUTIVE SUMMARY 2
1.1. Market Overview 2
1.2. Key Facts 4
1.3. Top Five Industry Events 5
2. PAYMENT INSTRUMENTS 11
2.1. Current Payment Environment 11
3. E-COMMERCE AND ALTERNATIVE PAYMENTS 13
3.1. E-Commerce Market Analysis 13
3.2. Alternative Payment Solutions 15
3.2.1. MasterPass 15
3.2.2. PayPal 15
3.2.3. OTPay 15
3.2.4. Paysafecard 15
3.2.5. Vodafone Wallet 16
3.2.6. Telekom MobilTrca 16
3.2.7. Telenor-Fortumo direct carrier billing 16
3.2.8. Ukash 16
3.2.9. Skrill 16
4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 17
4.1. Regulatory Framework 17
4.1.1. SEPA cards framework 17
4.1.2. Hungarian financial transaction tax 18
4.2. Anti-Money Laundering 19
4.3. Foreign Direct Investment Regulations 20
5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 21
6. PAYMENT CARDS 23
7. DEBIT CARDS 25
7.1. Debit Cards Market Analysis 25
7.2. Competition in the Debit Cards Market 27
7.3. Debit Cards Comparison 28
8. PAY LATER CARDS 29
8.1. Pay Later Cards Market Analysis 29
8.2. Competition in the Pay Later Cards Market 31
8.3. Pay Later Cards Comparison 33
9. APPENDIX 34
9.1. Abbreviations and Acronyms 34
9.2. Supplementary Data 35
9.3. Definitions 47
9.4. Methodology 49
9.5. Bibliography 51
9.6. Further Reading 51

List of Tables
Table 1: Hungary, Key Facts, 2016 4
Table 2: Hungary, Regional Benchmarking of Payment Cards, 2016 4
Table 3: Hungary, Mode of Entry of Foreign Banks 20
Table 4: Hungary, Debit Cards Comparison and Key Features, 2017 28
Table 5: Hungary, Gold Credit Cards Comparison and Key Features, 2017 33
Table 6: Hungary, Premium Credit Cards Comparison and Key Features, 2017 33
Table 7: Hungary, Charge Cards Comparison and Key Features, 2017 33
Table 7: Hungary, Payment Instrument Transaction Values (HUF Trillion), 2012-2016 35
Table 8: Hungary, Payment Instrument Transaction Values (US$ Billion), 2012-2016 35
Table 9: Hungary, Payment Instrument Transaction Volumes (Million), 2012-2016 35
Table 10: Hungary, Payment Cards in Circulation by Type (Million), 2012-2020 35
Table 11: Hungary, Volume of Payment Card Transactions (Million), 2012-2020 36
Table 12: Hungary, Value of Payment Card Transactions (HUF Billion), 2012-2020 36
Table 13: Hungary, Value of Payment Card Transactions (US$ Billion), 2012-2020 36
Table 14: Hungary, Debit Cards in Circulation (Million), 2012-2020 36
Table 15: Hungary, Debit Card Transaction Volumes, 2012-2020 37
Table 16: Hungary, Debit Card Transaction Values (HUF), 2012-2020 37
Table 17: Hungary, Debit Card Transaction Values (US$), 2012-2020 37
Table 18: Hungary, Debit Cards in Circulation by Scheme (Thousand), 2012-2016 38
Table 19: Hungary, Debit Card Transaction Values by Scheme (HUF Billion), 2012-2016 38
Table 20: Hungary, Debit Card Transaction Values by Scheme (US$ Million), 2012-2016 38
Table 21: Hungary, Debit Card Transaction Values by Issuer (HUF Billion), 2012-2016 38
Table 22: Hungary, Debit Card Transaction Values by Issuer (US$ Billion), 2012-2016 39
Table 23: Hungary, Pay Later Cards in Circulation (Million), 2012-2020 39
Table 24: Hungary, Pay Later Card Transaction Volumes, 2012-2020 39
Table 25: Hungary, Pay Later Card Transaction Values (HUF), 2012-2020 40
Table 26: Hungary, Pay Later Card Transaction Values (US$), 2012-2020 40
Table 27: Hungary, Pay Later Cards in Circulation by Scheme (Thousand), 2012-2016 40
Table 28: Hungary, Pay Later Card Transaction Values by Scheme (HUF Billion), 2012-2016 41
Table 29: Hungary, Pay Later Card Transaction Values by Scheme (US$ Million), 2012-2016 41
Table 30: Hungary, Pay Later Card Transaction Values by Issuer (HUF Billion), 2012-2016 41
Table 31: Hungary, Pay Later Card Transaction Values by Issuer (US$ Million), 2012-2016 42
Table 32: Hungary, Credit Cards in Circulation (Million), 2012-2020 42
Table 33: Hungary, Credit Card Transaction Volumes, 2012-2020 42
Table 34: Hungary, Credit Card Transaction Values (HUF), 2012-2020 43
Table 35: Hungary, Credit Card Transaction Values (US$), 2012-2020 43
Table 36: Hungary, Credit Cards in Circulation by Scheme (Thousand), 2012-2016 43
Table 37: Hungary, Credit Card Transaction Values by Scheme (HUF Billion), 2012-2016 44
Table 38: Hungary, Credit Card Transaction Values by Scheme (US$ Million), 2012-2016 44
Table 39: Hungary, Charge Cards in Circulation (Thousand), 2012-2020 44
Table 40: Hungary, Charge Card Transaction Volumes, 2012-2020 44
Table 41: Hungary, Charge Card Transaction Values (HUF), 2012-2020 45
Table 42: Hungary, Charge Card Transaction Values (US$), 2012-2020 45
Table 43: Hungary, Charge Cards in Circulation by Scheme (Thousand), 2012-2016 45
Table 44: Hungary, Charge Card Transaction Values by Scheme (HUF Billion), 2012-2016 46
Table 45: Hungary, Charge Card Transaction Values by Scheme (US$ Million), 2012-2016 46
Table 46: Key Definitions 47

List of Figures
Figure 1: Hungary, Payment Instrument Shares by Transaction Value (%), 2012 vs 2016 11
Figure 2: Hungary, Payment Instrument Shares by Transaction Volume (%), 2012 vs 2016 12
Figure 3: Hungary, E-Commerce Value, 2012-2020 13
Figure 4: Hungary, Population and Economic Indicators 21
Figure 5: Hungary, ATMs, POS Terminals and Household Consumption 22
Figure 6: Hungary, Payment Cards Transaction Value and Cards in Circulation, 2012-2020 23
Figure 7: Hungary, Debit Card Penetration and Turnover Per Card 25
Figure 8: Hungary, Debit Cards Scheme and Issuer Transaction Value Share, 2016 27
Figure 9: Hungary, Pay Later Card Penetration and Turnover Per Card 29
Figure 10: Hungary, Pay Later Cards Scheme and Issuer Transaction Value Share, 2016 31

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