The impact of Hungary's instant payment system on reducing cash usage

Lánchidi Réka (2024) The impact of Hungary's instant payment system on reducing cash usage. Külkereskedelmi Kar.

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Absztrakt (kivonat)

This thesis explores the impact of Hungary’s Instant Payment System (AFR) on reducing cash usage, contextualized within the broader evolution of money and banking. By tracing the transition from traditional currency to digital payments, it highlights how technological advancements are reshaping financial ecosystems globally, with a specific focus on Hungary’s journey toward a cashless society.The study begins with an overview of money’s evolution, from early barter systems to fiat currency, and the development of banking from its origins to modern digital platforms. It then narrows to Hungary’s implementation of AFR, a system designed to enable real-time, 24/7 payments. Key features of AFR, including speed, convenience, and security, are examined alongside the system's second-generation development, Qvik, which introduces enhanced functionalities like QR code payments and account aliasing.Despite its technical advantages, cash remains prevalent in Hungary due to cultural and economic factors. This thesis investigates the reasons behind this reliance on cash, contrasting Hungary’s progress with global case studies, including China’s mobile payment dominance, India’s UPI success, and Europe’s SEPA Instant Credit Transfer. These comparisons shed light on best practices and common challenges in promoting instant payments.Primary research, in the form of surveys, provides empirical insights into Hungarian consumers’ attitudes toward cash and digital payments. The findings reveal key drivers of resistance, such as trust in cash, familiarity with traditional methods, and perceived barriers to digital adoption. At the same time, the research identifies opportunities for AFR to further reduce cash dependency, such as increasing public awareness, improving user experience, and expanding adoption among businesses.The thesis concludes by evaluating AFR’s role in Hungary’s digital transformation and the broader implications for financial policy. It argues that while AFR has made significant strides, achieving a fully cashless society requires addressing behavioral resistance and fostering trust in digital systems. Lessons from successful international systems offer valuable strategies for Hungary to enhance its payment infrastructure.Ultimately, this study contributes to understanding the interaction between technology, policy, and societal behavior in modernizing financial systems. It provides actionable recommendations for policymakers and stakeholders seeking to maximize the benefits of instant payments and reduce cash dependency in Hungary and beyond.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Nemzetközi Gazdaságtan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdálkodás

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	elektronikus fizetés, fizetési rendszer, innováció, készpénzfizetés, készpénzforgalom, Magyarország
SWORD Depositor:	User Archive
Felhasználói azonosító szám (ID):	User Archive
Rekord készítés dátuma:	2025. Már. 12. 11:13
Utolsó módosítás:	2025. Már. 12. 11:13

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