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).
