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Global

HUNGARIAN INSTANT PAYMENTS PROJECT PROGRESSING AS PLANNED

September 4 2018

“In less than a year from now, on 1st July 2019, the instant payment system of Hungary will go live – fundamentally changing the way Hungarians make payments.  The implementation of the instant payment system is an historic step not only for GIRO, a leading provider of services to financial institutions in Hungary, but for the entire Hungarian […]
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Global

Hungarian national m-payment system struck down by EU court

November 8 2018

“The EU Court of Justice has struck down Hungary’s national mobile payments system, saying the monopoly violates the EU’s Services Directive. The European Commission brought the case against the country. The company Nemzeti Mobilfizetesi operates the national mobile payment system since 2014, and use of its services is mandatory for mobile payments of public parking charges, road […]

On The Wires

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Companies

ACI Worldwide and Partners Capsys and T-Systems Power Majority of Hungary’s Real-Time Payments

September 1 2020

“ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced that it powers approximately 75 percent of Hungary’s real-time payments, after the successful go-live of the country’s domestic real-time scheme. The scheme mandates that all transactions below HUF10M ($34,000) must be processed immediately.”