K&H: the record series continues, 64 percent paid more than once with a smart device

By: Trademagazin Date: 2023. 12. 08. 11:30

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In October, K&H made nearly 5 million payments with their smart devices, which is one and a half times more than a year earlier and represents a new monthly record. In the first ten months of the year, there were nearly 42 million smart device purchases, which corresponds to a 64 percent increase, and the total turnover of payments increased by 77 percent to HUF 297 billion. In the first ten months of this year, Google Pay traffic exceeded 100 billion. Banking with smart devices may gain even more ground in the future, and Kate, the financial institution’s virtual assistant, will also contribute to this.

Smart device payments at K&H reached a record level in October. More than 4.925 million purchases were made this month, which is a historical record, the financial institution said. The extraordinary result is indicated by the fact that in the first ten months of last year, the number of monthly smart device payments was on average 2.5 million, while this year it was almost 4.2 million.

“With smart device payments, both the number of transactions and the turnover are on the rise, and of course the inflationary effect plays a role in the latter growth, as the prices of many products and services have increased this year. The ten-month data also clearly point to the rise of digital payments. A total of nearly 42 million payments were made between January and the end of October this year, which corresponds to an annual increase of 64 percent. The total value of the purchases amounted to HUF 297 billion, which means an increase of 77 percent”

– said András Árva, K&H, the best digital bank of the year, marketing manager responsible for the retail segment.