Payment service providers' revenue at HUF 138 bln in Q1

Figures

Payment service providers in Hungary had HUF 138 billion of revenue in the first quarter of the year, up by 0.6% compared to the same period a year before, state news wire MTI says, citing a report released by the National Bank of Hungary (MNB).

The largest part of the revenues was still realized on credit transfers, accounting from more than 26% of total revenues, equalling almost HUF 37 bln. Payment service providers' revenues from card acquiring decreased. As a result of the fall of over 5%, it was below HUF 12 bln.

Although year-on-year the number of issuer side payment card frauds rose by more than 8% in Q1, the value of transactions involved in the frauds fell by almost 2%. Total loss generated by the 15,000 fraudulent transactions amounted to HUF 354 million.

No significant change was observed in the number and composition of payment accounts managed by domestic payment service providers in 2021 Q1, with their number still slightly exceeding 10.4 million. The number of consumer accounts used primarily for payment purposes was near 6.8m.

The number of payment cards in circulation was slightly above 9.8 million, after a fall of almost 97,000. This change has also affected the number of contactless cards, which fell by 60,000 compared to the end of 2020, and thus their total number was below 9.1 million. Nevertheless, their ratio within all cards rose to over 92%.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.