Nets launches real-time payments in Hungary

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Hungary’s domestic debit network GIRO has launched instant payments through Nets’ RealTime24/7 platform after months of testing.

The launch generated more than 1 million commercial transactions in its first three days, Nets said in a Monday press release.

“Launching real-time payments in Hungary not only marks an important step for GIRO, but for the whole Hungarian financial market,” said Selmeczi-Kovacs Zsolt, GIRO’s CEO, in the release. GIRO, launched in 1988 by Hungary’s largest banks, is a wholly owned subsidiary of the National Bank of Hungary.

In Hungary, Nets rolled out RealTime24/7 through a software implementation, versus a managed service approach, which Nets used in Denmark, Italy, Slovenia and Norway, according to the release.

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Real-time payments Hungary