Instant payment – later

On 28 May 2019 the Central Bank of Hungary (MNB) postponed the introduction of the instant payment system in Hungary, the new date is now 2 March 2020. MNB decided to take this step because they want to provide users with the best customer experience from the moment of the launch.

Lajos Bartha, MNB’s financial infrastructures director told to finetechzone.hu that many market players had been behind schedule with the project, which would have meant that after 1 July 2019, which was the original launch date of the instant payment system, the customers of certain banks were likely not to be able to make and receive money transfers. The instant payment system can contribute to preserving the country’s competitiveness on the international stage, because it increases the efficiency of economic operations and supports innovation. //