Mobile banking is part of everyday life

Children are encountering the world of digital finance at an increasingly young age, as mobile phones and smart device payments are now part of everyday life. Deloitte’s latest Global Mobile Consumer Trends report shows that financial literacy habits are most strongly developed among young people who are given the opportunity to practice early, in a safe environment. In Hungary, Mastercard’s 2024 research highlights that digital payments are already part of the daily routine among sixteen to twenty-five-year-olds. Furthermore, according to the research, more than half of Hungarian young people consider bank card and mobile payments to be the most convenient payment method.

Security basics for young people

In addition to the convenience of digital payments, learning how to use them safely is at least as important. Children should learn that keeping their PIN or password secret is a basic rule, and using a device screen lock is also essential. It is equally important to regularly check transactions and understand that mobile phones and bank cards represent the same value as cash.

It is important to remember that there are other key security steps: using strong and unique passwords, setting up two-factor authentication, activating fingerprint or facial recognition authentication, and always performing the necessary updates on mobile applications. These small but conscious steps guarantee that young people can manage their finances confidently and safely.

The role of parents and teachers

Both parents and teachers play an important role in shaping digital financial attitudes. If the family involves children in everyday purchases and discusses together how a contactless payment or a mobile banking transaction works, it strengthens children’s understanding and sense of responsibility. Teachers can help the process by supplementing theoretical knowledge with practical examples and interactive tasks. This way, young people not only hear about digital payments, but also gain real experience.

Nóra Horváth Magyary Voljč, K&H Group’s Chief Communications Officer, said: “Today’s children are already digital natives: mobile phones and contactless payments are a natural medium for them. Our task is to show them how to use these tools safely and consciously. The K&H Vigyázz, szét, pénz! financial competition serves exactly this purpose, which has provided more than 100,000 students with useful practical financial experiences in a playful way over the past decade and a half. This year’s competition starts in mid-October, where new exciting tasks await the participants.”