Template-Type: ReDIF-Article 1.0

Author-Name: Ágnes Illés Belházy
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: belhazynea@mnb.hu

Author-Name: Tamás Végső
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: vegsot@mnb.hu

Author-Name: Anikó Bódi-Schubert
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: schuberta@mnb.hu

Title: An Analysis of the Payment Habits of Hungarian Micro, Small and Medium-sized Enterprises – In Focus: Cash Usage

Abstract: In this study, we examine the cash usage of Hungarian micro, small and mediumsized
enterprises along with the main reasons behind the use of cash by analysing
data from a questionnaire-based survey conducted on a sample comprising 1,000
corporate managers. In this context, we study the payment habits of enterprises,
their ties with financial institutions, the degree of distrust in the Hungarian corporate
sector and potential tools for the reduction of cash usage. Wherever possible, we
compare our results to the conclusions of previously published Hungarian or foreign
research conducted with a similar focus. According to our most important findings,
credit transfer is clearly the most prominent payment method both in the SME
sector and among microenterprises, but the rate of cash usage is also high and
it does not exhibit a declining trend. Positive changes can be observed, however,
in payment discipline and business confidence. Hungarian enterprises are loyal to
their account manager banks, and although they are essentially open to electronic
payment solutions they are highly sensitive to the associated costs.

Classification-JEL: G30, G32, L14
Keywords: SME sector, microenterprises, cash usage, payment habits, business
confidence, credit institution preferences, electronic payment solutions
Pages: 53-94
Volume: 17
Issue: 4
Year: 2018
File-URL: http://english.hitelintezetiszemle.hu/letoltes/fer-17-4-st3-illes-belhazy-vegso-bodi-schubert.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:17:y:2018:i:4:p:53-94