Executive summary

Contents

1 Executive summary

2 Domestic payment service developments 2.1 Development of electronic payments 2.2 Cost of electronic payment 2.3 Reliability of electronic payments

3 Domestic payment and securities infrastructures

3.1 VIBER 3.2 CLS 3.3 Interbank Clearing System (ICS) 3.4 Liquidity in payment systems 3.5 KELER 3.6 KELER CCP

4 Special topics

4.1 Introduction of the instant payment system 4.2 Impact of the new Payment Services Directive (PSD2) on Hungary 4.3 Transformation of the payment services market 4.4 Impact of the coronavirus on domestic payments and on the operation of financial infrastructures 7

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