August 31, 2024 – 5:13 p.m
From Sunday, September 1, a new payment method will be available in Hungarian stores. With the solution called qvik, bank customers will be able to pay with a QR code. The advantage of this is that such payment transactions will be exempt from the transaction fee, wrote a Portfolio. According to the newspaper, this payment option will not appear in domestic stores immediately, but in the coming days and weeks there will be shops, merchants and department store chains that will introduce this solution.
In practice, this will work so that a QR code appears on the display of the cash register or bank card terminal in the store, and if you scan it with your mobile phone, you can pay with it at the same time. The option will be available not only in stores, but also on the Internet, wrote a Hvg.hu.
The basic condition for using qvik is that the customer has a bank account, but banks cannot charge any fees for “qviking”. Payments with QR codes will be exempt from the transaction fee, so banks would not have to pass on this cost to customers anyway, in contrast to card payments, for which banks pay a flat rate of HUF 500 per card per year. As usual for card payments, all stores will also inform you about Qvikes payments.
Barnabás Virág, a Hungarian National Bank (MNB) vice president said in June: “The MNB, in cooperation with Giro and the banks, has set the goal of creating a domestic electronic payment solution based on the Instant Payment System, which also handles domestic instant transfers, which can be an alternative or competitor to the card payment. qvik will be domestic, safe and competitive in terms of pricing.”
So far, few banks have announced their plans for the qvikes payment service, but it is already known that OTP Bank will provide merchants with qvikes acceptance through SimplePay.
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