Telenor offers affordable solution for merchants to meet mandatory electronic payment requirements effective from January

Merchants and service providers using online cash registers have less than two months to implement an electronic payment solution mandated by law. Telenor designed its new electronic payment (POS) offer in response to their needs. Due to a partnership established with Fizetési Pont, the fast- and easy-to-deploy solution offers a wide range of benefits including a 2-year exemption from paying a monthly fee, a low transaction fee of 0.95%, and crediting purchase transactions to merchants’ accounts in 24 hours.

As of 1 January 2021, merchants and services providers (e.g. shops, diners, car mechanics) using online cash registers will be obliged to provide a continuously available electronic payment option to their customers. Of the options available, the installation of a POS terminal seems to be one of the most sensible solutions. There are hundreds of thousands of online cash registers in use across Hungary. About 40,000 to 60,000 of them are installed in shops accepting only cash payment. Many merchants kept deferring the implementation of electronic payment due to its complexity and high costs. The joint offer of Telenor and Fizetési Pont provides a cost-effective, fast and easy-to-install solution tailored to their needs.

The costs of the offer for small enterprises are also affordable. Merchants don’t have to fund the POS terminal from their own resources. If they buy a new POS terminal, they can apply for a government grant of HUF 80,000 for the transaction disbursed in monthly instalments for a period of two years. Telenor gives them a 30% discount on the network fee. The payment solution is available signing a contract with a commitment of 3 or 5 years. The value of purchase transactions is credited to merchants’ accounts in 24 hours and they don’t need to have a monthly minimum turnover to be eligible for the service.

Combined with the extra discount provided by Telenor, merchants will be better off if they order a Fizetési Pont package through the mobile operator than if they contact a financial service provider directly.

“Implementing an electronic payment solution under attractive terms is not only valuable assistance for merchants in the current unpredictable situation, but it can also bring them more customers through making bank card payment available. Simplicity and fast installation, the discount offer and customer support services can make the solution available from Telenor an ideal choice for many merchants”, said Márton Homola, Digital Products Director of Telenor.

Besides whitening the economy, cashless payment also reduces the risks associated with cash usage in the current pandemic situation.

For more information about the electronic payment solution offered by Telenor please visit: pos.telenor.hu