Hungary’s e-commerce market offers a range of payment methods, including cards, cash, bank transfers, BNPL, and digital wallets. Hungarian consumers appreciate flexible and secure payment options, whether it’s using credit cards, splitting payments, or opting for instant bank transfers. Local solutions like Barion and SimplePay complement global services like Visa, PayPal, and Apple Pay, ensuring a seamless online shopping experience. This guide explores the key payment methods in Hungary’s evolving e-commerce ecosystem.
Payment by Card in Hungary
In Hungary, Visa and Mastercard are the most widely used cards for e-commerce transactions. Debit cards are more commonly used than credit cards, but both are popular. Hungarian consumers prefer card payments due to their convenience and security.
There is no dedicated local card system in Hungary. Most transactions are processed through international card networks. However, Hungarian banks issue co-branded cards that are linked to local accounts, ensuring seamless processing for online purchases. The Hungarian National Bank regulates card payments according to European Union standards, including PSD2 requirements for strong customer authentication.
Card transactions in Hungary are typically made in HUF (Hungarian Forint), though some merchants accept payments in euros. Processing fees vary depending on the payment gateway and card type, but local and international acquirers work with Hungarian merchants to facilitate smooth online transactions.
Payment by cash in Hungary
In Hungary, cash payments remain common for e-commerce through Cash on Delivery (COD). Consumers often choose this option if they prefer not to use cards online. COD allows customers to pay with cash upon receiving their product from couriers, offering flexibility.
Although card payments are growing, cash is still popular, especially among older consumers. Couriers like GLS and MPL support COD payments, handling the cash transactions during delivery. Some e-commerce platforms like eMAG Hungary and Extreme Digital offer this payment method to accommodate consumers.
However, COD carries risks for merchants, including failed deliveries or customer refusal to pay. These risks make cash-on-delivery less favorable for some online retailers.
Payment by bank transfer in Hungary
In Hungary, bank transfers are a popular payment method for e-commerce, especially for larger purchases. Hungarian consumers prefer this option due to its simplicity and security. The majority of banks in Hungary support SEPA transfers for euro transactions and HUF (Hungarian Forint) for local transfers.
The Hungarian Instant Payment System (HIPS), launched in 2020, has revolutionized online payments. This system allows instant bank transfers, processed in real time, 24/7. Payments made through this system are typically confirmed within seconds, speeding up e-commerce transactions and improving the user experience.
Barion and SimplePay are prominent local services that facilitate instant payments. They enable e-commerce sites to accept bank transfers quickly and securely, with Barion also offering a digital wallet service. Most Hungarian banks, like OTP Bank and K&H Bank, have integrated instant payment options into their mobile apps, making the process fast and easy for consumers.
Local actors : Barion, SimplePay
Payment by BNPL in Hungary
In Hungary, Buy Now, Pay Later (BNPL) services are growing for both B2C and B2B e-commerce. BNPL allows consumers and businesses to split payments into installments, making larger purchases more accessible.
In the B2C sector, local providers like Cofidis and SimplePay offer BNPL options, allowing consumers to pay over time. Shoppers can select BNPL at checkout, splitting payments into several months, with some plans offering interest-free installments.
In the B2B sector, PastPay is a key player, offering BNPL solutions to businesses. PastPay enables deferred payments for businesses, typically over 15 to 90 days, helping with cash flow management.
These BNPL services improve payment flexibility for both consumers and businesses, increasing e-commerce conversions and customer satisfaction. BNPL is becoming an integral part of the Hungarian e-commerce payment ecosystem.
Local actors : SimplePay, PastPay
Payment by digital wallet and X-Pay in Hungary
In Hungary, digital wallets and e-wallets are widely used for e-commerce, offering fast and secure payments. Google Pay, Apple Pay, and Samsung Pay are the most popular international options. These wallets allow users to store card details securely and make contactless payments online.
PayPal is a widely used digital wallet for e-commerce transactions. It allows users to link their credit or debit cards and make payments without sharing card details with merchants. PayPal is popular for both local and international purchases, offering secure and fast payments in multiple currencies.
Local digital wallets, such as Barion and SimplePay, are also prominent in Hungary. Barion offers a digital wallet and supports card payments, allowing users to store and manage their cards. SimplePay, operated by OTP Bank, enables smooth payments and is widely integrated with Hungarian e-commerce platforms.
Local actors : Barion, SimplePay
Payment methods in Hungary interesting you?
You want more? Access to the #PayWorldTour libraryÂ
