qvik is a payment solution developed by the Hungarian National Bank (MNB) and based on the Instant Payment System (AFR), under a unified domestic brand name. Essentially, it is a technology that allows you to pay in stores or online without using a bank card, by transferring money directly between bank accounts.

QR code payment is one of the most popular forms of this system: the merchant generates a code, and you scan it with your mobile bank and approve the amount.

Who is it recommended for?

Qvik is not a “must have” for everyone, but it offers unbeatable advantages in certain life situations and business models.

It is most worthwhile for merchants and service providers (the seller side), as Qvik aims to create a cheaper alternative to the bank card ecosystem.

• For cost-sensitive micro-enterprises: (For example: hairdressers, nail salons, market vendors, mechanics.) For them, bank card acceptance (terminal rental, transaction fees) is often too expensive. Qvik QR code payments do not require a terminal, a printed code or a phone application is enough.

• For webshops: Thanks to instant payment, the money is in the merchant’s account within seconds (compared to the 1-2 day settlement usual for card payments), and its transaction fees are typically lower than the fees of international card companies (Visa/Mastercard).

• For utility providers: QR codes placed on invoices can drastically simplify payments, avoiding slow yellow check queues or typing complicated transfer details.