Smart device payments are booming, with more than 5,500 transactions per hour

By: Trademagazin Date: 2023. 09. 25. 11:32

Payments with smart devices continue to show very vigorous growth at K&H. In the first eight months of this year, the financial institution’s customers processed an average of more than 5,500 smart device payments per hour, which corresponds to a 67 percent increase year-on-year. The monthly amount of smart device payments exceeded 30 billion forints in June, and in July and August it also exceeded this level. In August of this year, the amount of Google Pay payments that appeared for the first time on the Hungarian market at K&H approached HUF 12 billion, and Apple Pay payments almost reached HUF 22 billion.

Among the cashless payment solutions, smart device transactions continue to show significant growth, according to the latest K&H compilation. In the first eight months of this year, nearly 32 million transactions were made with K&H customers via the Apple Pay, Google Pay, Xiaomi Pay and Garmin Pay applications, worth more than HUF 228 billion, which represents an increase of 67 and 82 percent compared to the same period last year. compared to its period. This also means that K&H employees made more than 5,500 payments per hour using smart devices this year, compared to 3,300 transactions a year earlier.