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AFR / Instant Payments (HU)

FPS

Hungary's instant payment system, launched March 2020. 24/7/365. Mandatory for all Hungarian PSPs. Processes domestic HUF credit transfers up to HUF 20M in under 5 seconds. Supports P2P, merchant payments, and request-to-pay.

NowHours: computing from the published schedule…Service condition: not monitored details

ClearingPost does not assess whether AFR / Instant Payments (HU) is running normally.

Next

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No supported upcoming items in ClearingPost's records for AFR / Instant Payments (HU).

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Changed

Material, sourced changes ClearingPost recorded; corrections to its own record are labelled as such

No substantive change recorded for AFR / Instant Payments (HU) in ClearingPost's change records.

The full activity log for this system, including context notes, is on the Changes page.

Sources ClearingPost reads MNB · Authoritative (T1) · 13 of 18 fields carry a source and a recorded date · latest sourced entry recorded 16 Apr 2026 · evidence details ↓

Record · AFR / Instant Payments (HU)

Country
Hungary (HU)
Currency
Hungarian Forint (HUF)
Operator
MNB / GIRO Zrt
Type
FPS
Operating Window
24/7/365
Year Established
2020
Tier?
Tier 2
ISO 20022?
Native
Region
Europe
Settlement Type?
Gross
Participants
35+ PSPs (mandatory for all Hungarian banks)
Avg Daily Transactions
~580K (2024)
Avg Daily Value
~HUF 139B/day (~EUR 360M, 2023)
Availability
24/7/365
Notes

AFR (Azonnali Fizetési Rendszer) launched 2 March 2020. Central infrastructure operated by MNB; clearing by GIRO Zrt. Mandatory for all Hungarian PSPs. Secondary identifiers (proxy): mobile phone, email, tax ID. Request-to-pay supported since 2020 (1.19M R2P TX worth HUF 527.4B in Q2 2025, +48.9% vol / +81.4% val QoQ; avg R2P value HUF 445K). Settlement in central bank money via VIBER. Transaction limit raised from HUF 10M to HUF 20M (effective 1 September 2024). AFR 2.0 launched 2024 with qvik merchant payment service (QR, NFC, deep link, request-to-pay). By end Q2 2025: qvik available at 31,000+ merchant locations; QR/NFC/Link tx grew 344% in Q1 2025 and 41% in Q2 2025 (0.18% of card volumes). Avg qvik merchant payment HUF 23K vs avg card payment HUF 10K. ACI projects 471M annual AFR transactions by end 2026.

MNB / GIRO Zrt official website →
Reference Sources
MNB
Authoritative (T1)Entry recorded Mar 12, 2026
Status →
See all FPS systems →See all systems in Hungary →ISO 20022 migration status →Payment rails by country →
Other systems in the same country or region
T2 / TARGETRTGS
Eurozone · EUR · ECB / Eurosystem
SEPA SCTACH
Eurozone · EUR · EPC / CSMs
SEPA SDDACH
Eurozone · EUR · EPC / CSMs
SEPA InstFPS
Eurozone · EUR · EPC / RT1 / TIPS
EURO1Hybrid
Eurozone · EUR · EBA Clearing
CHAPSRTGS
United Kingdom · GBP · Bank of England

Operations · AFR / Instant Payments (HU)

Operational monitoring: not configured. ClearingPost does not monitor operational sources for this system and does not assess its current service condition.

Operations lists the systems ClearingPost monitors and the operational events it has recorded.

Intelligence for AFR / Instant Payments (HU) (2)

Coverage whose headline or summary names AFR / Instant Payments (HU), or names its operator or country together with its system type. Each item quotes that evidence and says whether the source is the AFR / Instant Payments (HU) operator or external.

AnalysisMar 28, 2026Headline names “AFR”
Hungary's qvik Merchant Payments Record 344% Growth as AFR Instant System Targets Card Networks
Hungary's AFR instant payment system recorded 344 percent quarterly growth in merchant transactions through its qvik overlay in early 2025. Average instant payment values of HUF 23,000 are 2.3 times higher than card payments at HUF 10,000, suggesting differentiated adoption at the point of sale. With 31,000 merchant locations and request-to-pay volumes surging 49 percent quarter-on-quarter, Hungary offers an early test case for whether mandatory instant payment systems can compete with card networks.
External source · Magyar Nemzeti Bank / About Hungary
AnalysisMar 23, 2026Headline names “AFR”
Hungary's AFR Instant Payment System Processes 53 Million Quarterly Transactions as qvik Merchant Service Gains Traction
Hungary's mandatory AFR instant payment system, operated by MNB and GIRO Zrt, processes over 580,000 transactions daily across 35 payment service providers, with the qvik merchant payment service expanding to 31,000 locations and request-to-pay volumes surging nearly 50 percent quarter-on-quarter in mid-2025.
External source · GIRO Zrt