Processing News: Your Guide to the Payment World!

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Processing News is an Online Wikipedia of the payment world. They collect and publish information about payment habits in different countries, describing methods that payers use in their daily life.

They attract website owners and payment professionals on the portal through marketing channels and personal communication. Also they work as affiliates and recommend to the website owners where they can find a PSP who supports their business model and they introduce clients to PSP.

All the key points about payment industry on the platform and with a team of professionals:

• Worldwide payment habits explained 
• The most popular Payment Methods
• Just Payment gateways which you can trust
• Interview with Industry leaders 

The platform provides articles focused on various countries, emphasising the best banks and the overall payment penetration landscape. A notable trend across Europe reveals that while countries like Germany and Austria favour Alternative Payment Methods (APMs) such as Sofort and Klarna, Portugal uses Multibanco and MBWay, respectively, Hungary displays a strong preference for traditional payment methods like VISA, Mastercard, and AMEX. 

Here are some key figures:

Hungary Population: 9.64 million

Currency: Hungarian forint (HUF)

Real GDP growth: -5.20% (2020), 7.10% (2021), 4.60% (2022), -0.30% (2023), 2.99 (2024f)

GDP per capita (EUR): 21,543 

Source: Raiffeisen RESEARCH, as of January 2024

Top 5 banks in Hungary:

Which one do you use? 

OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe, with banking services for private individuals and corporate clients.

(OTP Banks has – HUF 990.5 billion)

K&H Bank is one of the biggest commercial banks in Hungary, owned by the Brussels-based KBC Group since 1999.

(K&H Bank has – HUF 108 billion by 2023)

Erste Bank

Erste Bank (Hungary) is one of the major banks in Hungary and since 1997 is a member of Erste Group (Austria). 

(Erste Bank has $411.4 million)

Hungarian Development Bank Private Limited Company or Hungarian Development Bank, in short, is a credit institution fully owned by the government of Hungary.

(Hungarian Development Bank – HUF 26.8bn)

Raiffeisen Bank Zrt is a fully consolidated subsidiary of Raiffeisen Bank International AG (RBI), a provider of corporate and investment banking services in Austria and a universal bank in Central and Eastern Europe (CEE). Raiffeisen Bank Zrt is a universal bank, offering banking products and services in all customer segments – corporate and investment banking, SME and retail banking.

(Raiffeisen Bank – € 11,571 million)

Travelling to Hungary? You can rely on VISA, Mastercard, or AMEX for seamless payments almost anywhere. It’s advisable to check with your bank regarding foreign transaction fees before your trip.

Prepare to have some local currency on hand, as the Hungarian forint (HUF) remains the most commonly used method of payment. Knowing about the top banks is essential for anyone considering relocation, investment, or simple currency exchange.

For online business owners, discovering trusted payment gateways in Hungary is crucial. Don’t hesitate to reach out to us by leaving your email and industry details at Processing News About Us, and the team of professionals will consult you for free.

Stay informed and empowered with Processing News, your go-to portal for understanding payment trends worldwide!

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Disclaimer: the author(s) of the sponsored article(s) are solely responsible for any opinions expressed or offers made. These opinions do not necessarily reflect the official position of Daily News Hungary, and the editorial staff cannot be held responsible for their veracity.