Payment Habits and Instant Payment Systems in the V4 Countries

Peter Antal (), Cserne Panka Pota () and Patricia Becsky-Nagy ()
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Peter Antal: University of Debrecen
Cserne Panka Pota: University of Debrecen
Patricia Becsky-Nagy: University of Debrecen

Financial and Economic Review, 2024, vol. 23, issue 3, 99-116

Abstract: The study examines payment habits and instant payment systems in the Visegrad Four (V4) countries using a comparative analysis of secondary data. The authors identify the factors that influence household payment habits and the operational parameters of the instant payment systems in the V4. Based on the information thus identified, the similarities and differences between these countries and the reasons behind such are explored. Both quantitative and qualitative data are examined for the purposes of the summative evaluation, which concludes that the main reasons for cash payments are the lack of electronic payment options in certain payment situations, as well as the power of personal preferences and habits. Below a certain limit, the transfer is automatically instant in Hungary and does not entail any extra costs, while in the other three countries, instant transfer is optional and subject to a surcharge. Financial institutions and regulators play a key role in shaping household payment habits and enhancing instant payment systems.

Keywords: payment habits; electronic payment; instant payment system; V4 countries (search for similar items in EconPapers)
JEL-codes: E42 F30 G28 G40 O33 (search for similar items in EconPapers)
Date: 2024
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