On 26 March 2024, the Electronic Payment Service Providers Association (EFISZ) and the Embassy of Hungary in Brussels held a joint international event at the Liszt Institute Brussels with the title “Hungary in the Forefront of the Development of the Instant Payment World”.  

The professional event held abroad intended to bring into focus, in particular, the ecosystem of electronic payment services, cross-border cooperation, regional partnerships and good practices – with a view to EFISZ’s intention to treat services with a value chain-based approach, maintain the competitiveness of the EU, and last, but not least, create partnerships.  

In this introductory event, they shared experiences learnt from the Instant Payment System, which has operated in Hungary successfully since 2020, and also outlined further development paths that could be used by other Member States as a good practice. In addition to the above, EFISZ and its members involved could get an insight into the latest services, as well as current regulations concerning the digital finance segment, and participants could engage in professional discussions at the workshop.

At the closed professional event, guest presentations were given by EDFA, the joint international association of European FinTech organizations and digital payment services companies, (topic: European Digital Finance Association - Introduction of Umbrella Organizations), the Central Bank of Hungary (topics: Payments strategy 2010-2030 Hungary; Instant Payments in Hungary; Digitalisation and Fraud in Hungary), GIRO Zrt. (topic: GIROInstant-the backbone of AFR), Capsys Informatics Ltd. (topic: How to make an instant payment system effective?) and the National Mobile Payment Plc. (topic: Smart Platform-cross-border digital ecosystems and value chains), after the presentations, the participants had a chance to take part in a networking event, too.

EFISZ