Research on electronic payment

As part of the professional work connected to the establishment of the Electronic Payment Strategy (EFS), the Electronic Payment Service Providers Association (EFISZ) conducted a country-wide representative survey with the contribution of its members about the electronic payment’s domestic situation. The survey covered the topics of people’s knowledge, preferences and needs in connection with electronic payment.

With a national representative sample and personal query, a questionnaire survey was conducted by EFISZ among Hungarian citizens 18 years of age and older. In the June 2019 research, EFISZ was primarily interested in the awareness and needs of the domestic population regarding electronic payment, and in the factors that are preferred by the population during „e-payment”

The survey’s results have partly confirmed the population’s previous preferences, but in some areas, the findings differed from earlier research data. The research clearly determined that the majority of households are in possession of a bank card, smart phone and laptop. Two-thirds of the respondents have internet subscription at home, the internet is most often used for communication, reading news, and the average number of hours spent online is 3 hours a day. Most people know and use cash, swipe card and contactless payments. The least known and used means of payment are the virtual wallet and the prepaid card. 

The reasons for avoiding electronic payment methods, according to 46 percent of the respondents, are that they pay with cash out of habit, 30 percent find it difficult to use, and 27 percent consider it unsecure. Credit card and debit card payment with swiping or with contactless method is used by the majority or by everyone in the case of 54-55 percent. 

48 percent of the respondents consider the recommendation of electronic services effective, according to 58 percent, sufficient information is provided by the bank or by the financial provider’s employees. Every tenth respondent would like to participate in a free workshop on electronic payment systems to enhance their knowledge. 

Nearly 30 percent of the respondents use their own bank’s electronic payment service, every tenth respondent (also) uses the system of their telecommunication service provider. Other providers are selected by less than 10 percent. Nearly every second surveyed person does not use electronic payment services at all.