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Hungary: fintech & payments regulation

Regulated

Hungary fintech: MNB supervises payments under EU PSD2; no specific fintech act

Lead regulator:
Magyar Nemzeti Bank (MNB)
Key law:
EU Payment Services Directive 2 (PSD2)
Last updated:
2026-07-12

Payment services and fintech activities are regulated primarily through the transposition of EU directives, with the Magyar Nemzeti Bank (MNB) serving as the central supervisory authority.

The MNB issues binding recommendations to enforce compliance, such as Recommendation No 3/2025 on instant credit transfers and Recommendation No 5/2023 on fraud prevention.

Entities must obtain authorization as payment institutions or e-money institutions under Hungarian law implementing PSD2, adhering to strict operational and security standards set by the MNB.

Recent regulatory direction emphasizes robust transaction monitoring, customer authentication, and user-friendly design for digital payment solutions.

Who regulates

  • Magyar Nemzeti Bank (MNB)

    Primary supervisor for payment services and fintech entities

    [1][2]

Core laws & rules

  • EU Payment Services Directive 2 (PSD2) (2015)

    The core EU framework transposed into Hungarian law, governing payment service providers and establishing licensing and conduct requirements.

Licensing & registration

  • Payment Institution / E-Money Institution

    Authorization required to provide payment services or issue e-money, subject to MNB supervision and compliance with EU directives.

    Low confidence — verify with the regulator before relying on this.

Restrictions & warnings

  • Payment service providers must implement robust transaction monitoring and strict customer authentication protocols to prevent fraud, as mandated by MNB Recommendation No 5/2023.

    [2]

  • Providers must adhere to specific requirements for instant credit transfers via single data entry solutions, ensuring customer-friendly design and security.

    [1]

Direction of travel

  • The MNB continues to issue detailed recommendations to align national practices with evolving EU standards, focusing on security, fraud prevention, and user experience in digital payments.

    [1][2]

Sources

  1. Recommendation No 3/2025 on Instant Credit Transfers via Single Data Entry Solutions and Payment Requests · 2025-04-16
  2. Recommendation No 5/2023 on the prevention, detection and management of abuses observed through payment services · 2023-06-23

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This guide is compiled automatically from 2 primary-source documents published by Hungary's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.