Fintech & digital payments rules in Hungary (2026)

Payment Institution (PI) and Electronic Money Institution (EMI) licences are issued by the MNB under the Payment Services and Electronic Money Act (PSPA), transposing EU PSD2 and EMD2. Minimum initial capital for an EMI is HUF 100 million. A Limited Network Exemption (LNE) exists requiring only notification — not a licence — where annual transaction volumes exceed HUF 300 million.

MNB-licensed PIs and EMIs are listed in the EBA's PSD2 payment-institutions register and may passport services into other EEA states. Conversely, EEA-authorised PIs and EMIs may establish branches in Hungary via MNB notification from their home regulator.

Hungary's Azonnali Fizetési Rendszer (AFR) launched 2 March 2020 as a globally rare mandatory rollout — all domestic banks were required to offer 24/7 instant credit transfers up to HUF 20 million within 5 seconds from day one. Proxy identifiers (mobile number, email, tax ID) are supported; banks are prohibited from charging a premium for instant vs. standard transfers.

PSD2 was transposed in Hungary in 2019, mandating banks to open APIs to licensed AISPs and PISPs; however adoption has been slow, with only a handful of AISPs licenced and a single active open banking service as of 2025. PSD3 and the Payment Services Regulation (PSR) reached political agreement at EU level in November 2025, with enforcement expected mid-2026 and a 21-month transition period for member states.

BNPL currently operates in a regulatory gap in Hungary: consumer credit obligations (creditworthiness assessment, advertising rules, pre-contractual disclosures) do not apply to short-term deferred-payment products. Hungary is transposing EU CCD2, introducing BNPL-specific provisions under the Consumer Credit Act; from 20 November 2026, BNPL arrangements will be treated as regulated credit agreements and BNPL providers will require registration and must comply with consumer-credit rules.

The MNB operates an Innovation Hub and a regulatory sandbox (launched 2019) enabling fintech companies to test products in a live environment and streamline licensing. By 2024 the sandbox had supported approximately 200 projects; the MNB also publishes an annual FinTech and Digitalisation Report and maintains a publicly accessible Fintech Legal Repository.