Hungary’s waiting for instant payments will be fulfilled as the participants has confirmed that system will go live on 1 July 2019.
- The new system will operate all the time and will clear all single credit transfers up to the value of 10 million within five seconds.
- Consumers will be provided with instant credit transfers option using a mobile telephone number,so that the payer does not need to know account details to transfer funds.
- The central infrastructure of instant payments will be developed and implemented by GIRO in partnership with Nets.
- GIRO has configured the hardware infrastructure required for the installation and operation of the clearing software. Initial testing has also been completed effectively.