K&H: Smartphone payments approaching 1,400 billion forints

In three years, from May 2022 to the end of April 2025, K&H customers spent a total of almost 1.4 trillion forints with their smart devices. This amount was distributed over a total of 173 million purchases, the financial institution announced. During the period in question, a little more than 8 thousand forints was spent on one transaction.

Spectacular year-on-year growth

The rise of smart device payments is demonstrated by the fact that within the three years in question, between the beginning of May 2022 and the end of April 2023, nearly 38 million purchases generated a turnover exceeding HUF 264 billion. In the following twelve-month period – from May 2023 to April 2024 – 57 million transactions were associated with spending of HUF 422 billion. In the “third third”, i.e. from May last year to the end of April this year, the number of purchases was already over 78 million, with an amount of HUF 709 billion associated with this.

“For years, K&H has had an important goal to make digital solutions as widespread as possible in everyday banking. The popularity of smart device payments shows that Hungarian customers are quickly adapting to innovations and are happy to use convenient, fast and easy solutions. Smart device payments are now not only a modern alternative, but have become the primary form of payment for many,”

– said Zoltán Rammacher, Head of Marketing for the K&H Retail Customer Segment.

Based on K&H’s experience, mobile payments have become dominant not only among younger, more technologically open customers, but are also increasingly popular among older people. The rise of digital wallets indicates that financial habits are changing: customers are not only open to new things, but are also actively looking for solutions that simplify everyday financial management.

How many forints does a purchase cost?

Two-thirds, or 66 percent, of K&H’s smart device transactions were made with Apple Pay, while Google Pay is in second place with a rate of 33 percent. The rest is shared by Garmin Pay and Xiaomi Pay, although they are marginal players, but they are a good indication that the further expansion of the market can also provide room for new technological solutions.

A similar distribution can be observed in terms of transaction numbers: Apple Pay’s dominance is also evident here with 62.4%, while Google Pay is in second place with 37%. Among the smaller players, Garmin Pay follows the leader with 0.4%, followed by XIAOMI PAY, and AmazFit and Google Smart Watch, registering a total of more than 33,000 million payment transactions during the year.

The detailed data also shows that in the case of Apple Pay, an average of nearly 8,600 forints was spent on a transaction over the past three years. With Google Pay, the same is more than 7,200 forints, with Garmin Pay almost 7,600, and with Xiaomi Pay, the value is rounded to 6,000 forints.