POS Card Acceptance

Card acceptance has been proven to attract new customers and encourage shopping, thereby increasing business turnover. Experience as well as statistical data suggests that customers using bank cards spend more than those paying in cash.

Another benefit of card acceptance is that it is security of payment. Each transaction is subject to authorisation, in the course of which, among other things, the card number, the card expiry date, the availability of the required funds and the relevant blacklists are checked, thereby enhancing the level of security associated with accepting the card. The costs of ensuring a constant supply of cash decrease, as do the chances of unwittingly accepting forged banknotes. Settlement between the card acceptor and the bank takes place automatically, through an electronic channel. 

Use of the service enables the following types of domestic and international cards to be accepted for payment purposes:

• MasterCard
• MasterCard Electronic
• Maestro
• VISA
• VISA Electron
• VPay

For our contracted partners upon demand we can also provide acceptance of American Express (AMEX), Széchenyi Pihenőkártyák (SZÉP) and certain Health Fund cards on CIB terminals.

For clients who conclude a contract with us for card acceptance, we install the POS terminals and provide on-site training free of charge, and we provide a free Acceptance Manual and User Manual for the given type of installed terminal, as well as free labels and logos to draw their customers’ attention to the fact that they can pay by card.

Our bank arranges for POS-terminal maintenance and repair free of charge.

The card acceptor must provide for the technical conditions required for installation and operation, as well as for the availability of the requisite (analogue) telephone lines. The preconditions for concluding a contract are company registration in Hungary, evidence of an account-management history of at least three months with a domestic bank, and the opening of a current account at CIB Bank. If you are already a client of our bank, and payments are actually transacted on your current account, it is sufficient to have an account-management history of 3 months with CIB. If you meet these preconditions, you can apply for the service at any branch of our bank, by completing the relevant application form. 

• The Bank provides as many POS terminals as requested without charging an installation or rental fee. The Bank only charges a monthly supervision fee.
• A commission is charged on each card-payment transaction, the extent of which depends on the expected transacted volume, the acceptor’s profile and the number of terminals. The extent of the commission is determined on a case-by-case basis following a personal meeting. (The fees for managing the Corporate Bank Account are contained in the latest applicable List of Conditions.)