In recent days, a CBA Príma store in Budapest has officially introduced the Qvik instant payment system—the first of its kind in Hungary. Launched last year by the Magyar Nemzeti Bank (MNB – Hungarian National Bank), this solution has been made available in the Hungarian retail sector through the collaboration of Laurel and Raiffeisen Bank. This innovation, beneficial for both customers and retailers, holds national strategic significance and may soon become mandatory at the EU level.
The retail IT company has been working on this project with Raiffeisen Bank for over two years, ultimately creating the framework that led to the MNB officially standardizing Qvik on September 2, 2024. Since then, the system has been integrated into the company’s cash register software, which operates on more than 6,000 cash registers nationwide, supporting the widespread adoption of the new payment method.
Qvik made its debut in the designated Príma store in Budapest’s 4th district and will initially be available in nine additional locally owned stores. This technology is independent of all other payment systems; for customers, it requires a Hungarian bank account and a mobile banking application, while for retailers, it necessitates the involvement of a payment transaction service provider. A crucial development in this area is the upcoming EU PSR regulation, which is expected to make this system mandatory for all banks and payment service providers across the European Union.
Qvik enables payments in physical stores through three different methods. One option involves scanning a QR code displayed on the cash register screen using a mobile application, triggering an instant transaction. Additionally, NFC-based data transmission can be used, and in certain cases—such as via a loyalty card or e-receipt registration—the payment can be completed automatically without any action required from the customer.
The solution is both secure and simple, eliminating the need for a bank card while offering the convenience of card payments without additional costs for customers. For businesses, it provides further advantages, including lower fees compared to card payments, immediate fund transfers to their accounts, and the elimination of card terminals or provider-dependent hardware. Moreover, the system helps retailers comply with legal obligations to offer electronic payment options.
„The benefits of this new payment solution are becoming increasingly clear to market participants, and we expect its rapid adoption in domestic stores. Cash register system development is ongoing, and we anticipate integration with all major payment service providers by the end of the year. Additionally, we will make the cash register-side payment modules available to other developers as well,” added Attila Bessenyei, CEO of Laurel.”
