Magazine: Stronger competition and a level playing field in the e-payment market
In the summer of 2019 a study by the Hungarian Competition Authority (GVH) found that the costs of bank card payment are too high for small-turnover retailers – so high that they are better off not offering this service at all.
In the light of this it is very important that GVH has recently said: the amended Trade Act – published on 14 July 2020 and entering into force on 1 January 2021 – doesn’t make the introduction of bank card payment mandatory for retailers, it obliges them to introduce ‘electronic payment’. This step creates a level playing field for bank card and other electronic payment service providers (e.g. the instant payment solutions launched in March).
//
Related news
The GVH fined Booking almost HUF 400 million with a record fine
Booking did not fully fulfill its obligations requiring the termination…
Read more >The security of smartphone payment is equal to that of a bank card
The majority of people in their twenties consider smartphone or…
Read more >Is it a tip or a service charge? Not the same thing!
There is often great uncertainty as to whether the service…
Read more >Related news
A Hungarian specialist became Danone’s Eastern and Central European sales manager
From this July, Enikő Bolyós organizes and manages the company’s…
Read more >Recent research: almost half of Hungarians do not use sun protection cream, and moreover, they do not avoid the sun in the midday hours either
According to a recent, representative research, only 8 percent of…
Read more >The GVH fined Booking almost HUF 400 million with a record fine
Booking did not fully fulfill its obligations requiring the termination…
Read more >