Entrepreneurs can accept card payments on their own phones.

Hungarian merchants can also use their smartphones to accept cards, Mastercard and Payment Point announced in their press release. The companies say they can now comply with the new regulation, which takes effect in January, without requiring a terminal, forcing merchants with online cash registers to provide at least one form of electronic payment.

Payment Point was the first service provider to make successful card payments in Hungary using SoftPos technology. The essence of the latter is that the merchant can also accept card or wallet payments with a smartphone running on an Android system. According to the announcement, this solution will soon be available to new service providers in Hungary.

The essence of the SoftPos solution is that NFC payments, such as contactless card and wallet payments, can be received on the contractor’s own phone. All you need is an NFC chip device running Android; a significant proportion of smartphones on the market meet these conditions.

The service can be especially useful for transactions that do not require PIN code authentication, usually for less than HUF 15,000, but it will soon be possible to enter a PIN code. In the case of wallets with greater protection, the authentication is done on the client’s device with biometric identification or wallet password, so we can pay any amount in the sofPos terminals using them – read the ad

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Mastercard introduces a new payment method in Hungary



hvg.hu
Technology

Mastercard also makes its account-based payment service called Pay by Account available in Hungary. In this way, clients will be able to pay with the speed, convenience and simplicity of card and mobile payments, simply without using or associating a credit card, directly with their bank account. These solutions will be much needed in the coming months in Hungary: as of January 1, 2021, all merchants with online cash registers will have to provide electronic payments to their customers.

Purchase with a card without PIN: the government went to the wall



Gábor Kovács
Economy

If the euro exchange rate, which is now around 350, falls below HUF 300, Hungary would violate EU regulations on PIN-less card payments with the 15,000 HUF limit introduced due to the epidemic. The government doesn’t seem to be afraid of this either.