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Credit cards in Hungary
As of 2008, Hungary has a population of 10.04 millions with a GDP(gross domestic product) of €105.84 billions. This
translates into €10.54 thousands of GDP per capita. Hungary contributes 0.85% of the EU total GDP.
As at 31st December 2008, there are 8,946,040 payment cards issued in Hungary(0.89 cards per capita), an increase of 337,550 or 3.92% compares to 8,608,490 in 2007.
There are 1,737,770 credit cards in Hungary as at 31st December 2008, a slight increase of 35,070 or 2.06% compares to 1,702,700 in 2007.
Debit cards increase by 299,420 or 4.33% to 7,214,110 in 2008, compares to 6,914,690 in 2007.
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Total Card Payments in Volume and Value
For 2008, there are 166.30 millions of card payment transactions in Hungary(16.57 transactions per capita), a significant increase of 31.51 millions or 23.38% compares to 134.79 millions in 2007. This is a healthy growth
considering there is only about 4% increase in the number of payment cards in 2008. Out of these transactions, 23.13 millions or 13.91% is paid by credit cards, an increase of 3.26 millions or 16.41% compares to 19.87 millions in 2007.
This is a suprising increase considering only about 2% addition to the number of credit cards issued in 2008. Majority of card payment transactions(143.17 millions) are paid by debit cards, a significant increase of 28.26 millions
or 24.59% compares to 114.91 millions in 2007. This is a significant growth as there is only about 4% increase on the number of debit cards issued in 2008. Hungary total card payment transactions volume
contributes a low 0.56% to the EU total number of transactions.
Hungary has a low total card payments in value in Europe, however, there is a significant increase of €0.86 billions or 18.7% to €5.46 billions(€0.54 thousands per capita) in 2008,
compares to €4.60 in 2007. This also translates into €32.8 per card payment transaction, a slight decrease compares to €34.1 in 2007. Out of these transactions, €0.85 billions or 15.57% is paid by credit cards,
a significant increase of €0.10 billions or 13.33% compares to €0.75 billions in 2007. The rest of card payments, €4.61 billions in value is paid by debit cards,
a significant increase of €0.76 billions or 19.74% compares to €3.85 billions in 2007. These growth are in accordance with the increase in debit cards and credit cards number of transactions.
Hungary total card payment value contributes a mere 0.33% to the EU total transactions value.
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