Hungary to play key role in harmonising Eastern and Western payment systems
Sino-European cooperation could reach an entirely new dimension through the harmonisation of Eastern and Western payment systems, a goal achievable with Hungary's active participation, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó announced in Beijing on Tuesday. In a Facebook post, the minister revealed that Hungary's Cardnet and China's Macau Pass had signed an agreement to establish a payment platform linking Chinese and European payment and settlement systems.
Hungary to play key role in harmonising Eastern and Western payment systems
The Economics of Geography

Hungary to play key role in harmonising Eastern and Western payment systems

Photo: Péter Szijjártó/Facebook
Eurasia 27/11/2024 00:07

Sino-European cooperation could reach an entirely new dimension through the harmonisation of Eastern and Western payment systems, a goal achievable with Hungary's active participation, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó announced in Beijing on Tuesday. In a Facebook post, the minister revealed that Hungary's Cardnet and China's Macau Pass had signed an agreement to establish a payment platform linking Chinese and European payment and settlement systems.

"Sino-European cooperation can truly take on a new dimension if we succeed in harmonising Eastern and Western payment systems," he wrote. "It is particularly significant that this milestone can be achieved with Hungarian involvement and Hungarian technology," he added.

Szijjártó also highlighted the growing number of Chinese tourists visiting Hungary, facilitated by 21 weekly flights connecting major Chinese cities to Budapest. At the same time, many Hungarians are taking advantage of the visa-free travel to China. "Tourism has increased in both directions, and I believe that establishing a common payment platform will further enhance the appeal of visiting each other's countries," he said.

Szijjártó described the agreement between Cardnet and Macau Pass as a crucial milestone, emphasising that it would significantly simplify payment processes for both Hungarian and Chinese citizens traveling between the two countries. "As a result, I anticipate further growth in tourism between China and Hungary," he concluded.
See Also

We use cookies on our website. If you consent to their use, we use them to measure and analyze the use of the website.
Information and Settings