Credit Card Payment in Hungary is Set to Radically Change Direction! 

Budapest, September 26, 2019 - NovoPayment kft. Introduces new generation of secure electronic payment terminals with built-in camera and touch screen. Thanks to numerous additional features like fingerprinting, using PAX Android POS terminals provides a personalised shopping experience for both merchants and buyers. The event also provided useful information on the future of payment services. 




According to the latest report of the MNB Hungarian National Bank, there were 147,102 POS terminals operating in Hungary in the second quarter of 2019, with more than 115,000 physical merchant acceptance points. Most of these terminals have a monochrome display, and the most recent improvement is contactless payment, first announced by Mastercard in 2014.  However, NovoPayment's first colour touch screen terminal introduced last summer and the new generation introduced today, can radically redirect card acceptance. “NovoPayment is also leading the way to share technology found elsewhere in Europe to Hungary,” said Ferenc Buday, NovoPayment Key Account Manager.

 

Android POS terminals not only make it easy to pay, but also provide unlimited access to information and features, easily customised by merchants. The engineers paid close attention to the clean design and user experience. Each of the four new handsets introduced today has three main function keys for easy navigation. The terminals are super-fast, with about two and a half times faster printers than before and have a powerful processor and large memory to almost completely prevent freezing, stalling and sudden restarts. Front and back-facing cameras offer a host of features from QR code reading to face recognition, and they can communicate with the printer via Wi-Fi or Bluetooth.

 

What does this mean ?

 

Merchants can get closer to their customers. “Competing with existing players as well as new entrants is not an easy task; it is a constant challenge, which is further complicated by PSD2 regulation,” said Mark Fitzgerald, Managing Director of NovoPayment at the roundtable discussion. 

“The young generation hardly ever uses physical devices for payments,” preferring mobile payments or online, according to Worldline SIX, Country Manager, Lajos Szabó-Kocsis, “he who does not move now, is falling behind this growing generation very quickly.” 


 

Regarding the PSD2 guidelines, Ferenc Szász, Business Development Director at Mastercard, said that the fact that other businesses may be involved in payment processes in the future, in addition to banks, could bring significant new technological solutions to enhance the customer experience. “Android POS's biggest value proposition is that it can bring a wealth of information to consumers” added Szász.


  


Merchants can get closer to their Clients


Referring to the advanced features and access to information, “With all that technology, PAX’s Android POS can help you communicate with your customers at a unique level,” added Mark Fitzgerald.


“We are confident that state-of-the-art PAX Android payment terminals will be the cornerstone of the future financial services market”, said Panagiotis Chalkias, Managing Director of Transaction Systems. Transaction Systems is the Master Distributor for PAX in Hungary, Central, South and Eastern Europe (www.tr-sys.eu).


  


 A competition was announced

 

A competition was announced at the end of the event, for NovoPayment’s new and existing clients, to recognise the first three developed and operational applications. 


Background Information


NovoPayment kft, has been operating in Hungary since 2009, offering innovative merchant and financial services in cooperation with international market leading payment service providers. NovoPayment   offers a wide range of secure, reliable and effective payment solutions that make lightning-fast cashless payments with the most common credit and debit cards. It also provides a ready-to-use plugin for most known webshop systems.



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