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Payment Habits and Instant Payment Systems in the V4 Countries

Author

Listed:
  • Peter Antal

    (University of Debrecen)

  • Cserne Panka Pota

    (University of Debrecen)

  • Patricia Becsky-Nagy

    (University of Debrecen)

Abstract

The study examines payment habits and instant payment systems in the Visegrad Four (V4) countries using a comparative analysis of secondary data. The authors identify the factors that influence household payment habits and the operational parameters of the instant payment systems in the V4. Based on the information thus identified, the similarities and differences between these countries and the reasons behind such are explored. Both quantitative and qualitative data are examined for the purposes of the summative evaluation, which concludes that the main reasons for cash payments are the lack of electronic payment options in certain payment situations, as well as the power of personal preferences and habits. Below a certain limit, the transfer is automatically instant in Hungary and does not entail any extra costs, while in the other three countries, instant transfer is optional and subject to a surcharge. Financial institutions and regulators play a key role in shaping household payment habits and enhancing instant payment systems.

Suggested Citation

  • Peter Antal & Cserne Panka Pota & Patricia Becsky-Nagy, 2024. "Payment Habits and Instant Payment Systems in the V4 Countries," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 23(3), pages 99-116.
    • Handle: RePEc:mnb:finrev:v:23:y:2024:i:3:p:99-116
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    References listed on IDEAS

    as
    1. László Kajdi & István Nemecskó, 2020. "Regional Features of Card Payments in Hungary," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 19(1), pages 65-89.
    2. Jon Frost & Priscilla Koo Wilkens & Anneke Kosse & Vatsala Shreeti & Carolina Velásquez, 2024. "Fast payments: design and adoption," BIS Quarterly Review, Bank for International Settlements, March.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    payment habits; electronic payment; instant payment system; V4 countries;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F30 - International Economics - - International Finance - - - General
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G40 - Financial Economics - - Behavioral Finance - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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