K&H: young people pay with smart devices six times out of ten

By: Trademagazin Date: 2024. 12. 02. 11:38

At K&H, the number of bank accounts opened by young people has increased to over 130,000. And they pay with cards quite often, for example 84,000 times a day in the third quarter. Smart device payments are dominant, with those under twenty-six choosing this solution six times out of ten. Due to the increasingly widespread use of bank accounts and card and smart device payments, it is understandable that education on these topics was given a prominent role in the K&H Vigyázz, szét, pénz! financial quiz series, which is celebrating its anniversary season this year.

At the end of September this year, more than 130,000 customers under the age of 26 had a bank account with the financial institution. This represents an increase of almost 15 percent compared to the level two and a half years ago, K&H announced. The number of people under 26 with a bank account at a financial institution is slightly less than the entire population of Pécs and is essentially the same as the number of people living in one of the most populous districts of Budapest, District XI.

Mostly purchases with smart devices

The young people concerned often use their physical and digitalized bank cards linked to their bank accounts: in the third quarter – i.e. between the beginning of July and the end of September – they made almost 7.6 million purchases. Within this, the number of digital payments exceeded 4.4 million, meaning that young people prefer digital payments in almost 60 percent, with an average monthly spending value of 127,415 HUF,” highlighted Zoltán Rammacher, Head of Marketing for the K&H retail customer segment.

According to him, for young people, using fast and convenient payments with smart devices is much more self-evident, even without a physical card, since using their mobile phones is an integral part of their everyday lives, so they are happy to handle their daily finances on their phones. Having your own bank account not only makes managing your pocket money easier and safer, but it also helps you get to know the world of finances and learn the basics of conscious money management, which also contributes to the development of your independence. In addition, you can collect your pocket money or other occasional income that arrives in your bank account in a savings account, which you can use to achieve your small or large goals.