The triumph of smart device payments continues

By: Trademagazin Date: 2024. 10. 01. 08:44

The triumph of smart device payments continues at K&H. The number of transactions increased by 43 percent this year, while the amount of spending increased by 57 percent. Among the four types of smart device solutions, Apple Pay and Google Pay take the lead, with the former’s turnover increasing by 59 percent and the latter’s by 54 percent this year compared to the same period last year.

Although cashless smart device payments have been on the rise for years, K&H’s have hit it with a shovel despite the ever-higher base – the financial institution announced based on its own data.

43 and 57 percent plus at the same time

In the first eight months of this year, customers of the financial institution paid nearly 46 million times with smart devices, compared to the same period of the previous year, when almost 32 million transactions took place. In other words, the number of transactions increased by 43 percent.

An even more significant increase can be seen in terms of turnover measured in HUF. Between the beginning of January and the end of August of this year, smart device payments reached a total of HUF 359 billion, compared to HUF 228 billion a year earlier, which corresponds to a 57 percent increase.

“The trend-like and dynamic rise of payments with smart devices shows that our customers increasingly prefer fast, convenient and simple solutions. Due to the contactless user experience, the popularity of Apple Pay and Google Pay is constantly growing, as they can be used to pay quickly and securely not only in stores and online stores, but are also used more and more often through applications to manage subscriptions and other digital transactions.”

– said Zoltán Rammacher, marketing manager of the K&H Residential Customer segment.
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