March against cash’ – this attention-grabbing topic was on the agenda at the round-table talk of the 4th Mobile Payment Symposium on 22 May 2019.
National Mobile Payment Plc., with the intention to create a tradition, organised its invitation-only conference ‘Mobile Payment Symposium 2019’ between 21-22 May 2019 at the Hungarian Academy of Sciences. The aim of the annual conference is to establish a dialogue about innovative electronic payment solutions and the corresponding digital services in Hungary.
The Electronic Payment Service Providers Association (EFISZ) discussed the topic ‘March against cash’ at a round-table talk with representatives of GIRO Zrt., Budapest Bank Zrt., OTP Group, T-Systems Hungary Zrt., Takarék Group, InterTicket Kft., Erste Bank Hungary Zrt. and National Mobile Payment Plc. The participants discussed several topics: regarding innovative solutions for decreasing the use of cash and for developing mobile applications, which of these they would highlight and which they prefer; whether cash will disappear completely or only its use will be limited and how long this process will take; what is expected of the Instant Payment System and what it will bring about; what cooperation is like with fintech firms developing solutions for the PSD2 open platform; what advantages a cash-free world brings in new technologies and payment solutions; when e-transactions will amount to 50% of the cash flow among retail clients in Hungary.