Payment methods in Hungary
The Hungarian e-commerce market is worth US$2 billion a year today but its value will double by 2027.
Market takeaways
- The Hungarian e-commerce market is worth US$2 billion a year today but its value will double by 2027.
- Shoppers in Hungary buy almost 10% of their online purchases, worth $200 million, from merchants in other countries.
- Hungarians pay for just 34% of all online transactions using cards. All the rest they buy using bank-transfer apps, e-wallets and other digital payment methods.
- In 2022, Hungarians paid for more than 40% of all online purchases using a mobile device, a slight increase on the previous year.
- The average Hungarian online shopper spends just under US$300 a year with e-commerce merchants, rising to over US$400 by 2027.
Population
9.7M
Online population
8.3M
B2C e-commerce
$4.2B
Banked population
76%
Credit card population
30%
E-commerce of total retail
9%
Payment method breakdown
- Card30%
- Cash20%
- Bank Transfer22%
- E-Wallet28%
- Other0%
Card scheme breakdown
- Visa20%
- Mastercard80%
- American Express0%
- Local schemes0%
- Other0%
Cross-border e-commerce
Cross-border shoppers
61%
Share of e-commerce
8%
Cross-border value (est.)
$0.2B
Featured payment methods in Hungary
Popular options based on coverage and prominence in this market.
Cash on Delivery
Cash payment on delivery of goods, still used by approximately 20–25% of Hungarian online shoppers. Remains culturally embedded despite the rise of digital payment alternatives.
Cash on Delivery
A traditional payment method where customers pay for goods in cash upon delivery. It remains a popular alternative to electronic payments in countries like Hungary and Slovenia.
Paysafecard
Prepaid voucher payment for online purchases without a bank card. Popular in Hungary for gaming, digital content, and entertainment.
SZÉP Card
State-regulated benefit card issued by employers as a tax-advantaged fringe benefit. Over 3 million in circulation. Used in hospitality, accommodation, and leisure sectors. Significant for e-commerce in travel and hospitality.
SimplePay
Hungary's dominant digital payment gateway, operated by OTP Bank. Powers ~50% of Hungarian digital transactions. Integrated by most Hungarian e-commerce merchants. Supports card payments, bank transfers, and instalment options in a single flow.
All payment methods in Hungary
Discover 5 payment methods from around the world
Featured banks in Hungary
Major institutions operating in this market.
Intesa Sanpaolo
Turin, Italy
Intesa Sanpaolo is Italy's largest bank and one of the Eurozone's leading financial institutions, providing retail, corporate, and investment banking in Italy and across Eastern Europe, the Middle East, and Africa.
UniCredit
Milan, Italy
UniCredit is a pan-European commercial bank headquartered in Milan with a strong presence in Italy, Germany, Austria, and Central & Eastern Europe, serving 15 million clients.
Erste Group
Vienna, Austria
Erste Group is Austria's largest bank, headquartered in Vienna. It serves 17 million clients across Austria, Czech Republic, Slovakia, Hungary, Romania, Serbia, Croatia, and Slovenia.
OTP Bank
Budapest, Hungary
OTP Bank is Hungary's largest bank and the dominant financial institution in the country, with significant regional presence across Central and Eastern Europe and the Balkans.
KBC Group
Brussels, Belgium
KBC Group is a Belgian banking-insurance company with a strong presence in Belgium, Czech Republic, Slovakia, Hungary, Bulgaria, and Ireland.
Raiffeisen Bank International (RBI)
Vienna, Austria
Raiffeisen Bank International (RBI) is Austria's second-largest bank and a leading retail and corporate bank in Central and Eastern Europe, operating in 13 markets.
