Visa launches new digital payment programme in Hungary!
Visa has extended its Digital Payment Programme to Hungary, aiming to support the digitalisation and competitiveness of Hungarian micro and small businesses, particularly those entering or expanding in e-commerce.
Big boost for small businesses
The global payment provider announced the initiative on Tuesday, following similar rollouts in seven other countries in the Central and Eastern European region.
The programme targets businesses that have not accepted online card payments in the past 12 months or are just starting their e-commerce activities. Participating merchants can benefit from six months of free online card acceptance.
In addition to payment solutions, the initiative aids e-commerce growth with services such as invoicing, webshop creation, inventory management, courier logistics, digital advertising discounts, and educational materials.
This three-year campaign is implemented in collaboration with Hungarian payment acquirers and e-commerce partners including Shoprenter, Árukereső, DPD, Boxy, and Számlázz.hu.
E-commerce growth and digital payment trending in Hungary
Studies cited by Visa show that Hungarian e-commerce has grown on average 25% annually between 2018 and 2023, with the market value reaching approximately €8 billion, or 4.1% of the country’s GDP.
Concurrently, consumer payment habits have shifted towards digital methods; while only 48% preferred electronic payments in 2020, this ratio is projected to increase to 69% by the end of 2024. Users now expect not only security but also seamless payment experiences.
Visa emphasises that smaller businesses unable to leverage e-commerce and digital payments risk losing new customers, market opportunities, and chances for international expansion.
Comments from Visa Hungary’s leadership
Bence Sármay, Visa’s head for Hungary, highlighted the importance of making online card acceptance simple and accessible for businesses to benefit from the digital economy. Since 2018, Visa has supported merchants across Europe with various acceptance expansion and digitalisation programmes to help them reach more customers and enhance payment experiences.
The Digital Payment Programme in Hungary forms part of a broader initiative accelerating the digital transformation of SMEs, which is already active and successful in seven other Central and Eastern European countries.
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