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Card or print? How to issue cafeteria vouchers electronically?


  • Éva Divéki

    () (Magyar Nemzeti Bank (central bank of Hungary))


Recently, there have been several government initiatives pointing to the electronisation of the voucher market, some of which have already reached the phase of implementation. In the interests of implementation at the society level which is efficient from technical as well as ‘business’ points of view, the most important principle related to the domestic voucher infrastructure is that it should operate electronically. Vouchers need to be accepted in the already operating bank card infrastructure (and/or with its expansion) in such a manner that the system should allow the participation of private service providers (issuers, acquirers) which compete against one another. The motive of writing this article was that the voucher market underwent a significant modification this year, due to changes in the relevant tax allowances. The modification process points in the direction of electronisation, but considerable advantages could be achieved by further electronisation in the case of the still paper-based, state-supported voucher market segment as well.

Suggested Citation

  • Éva Divéki, 2012. "Card or print? How to issue cafeteria vouchers electronically?," MNB Bulletin (discontinued), Magyar Nemzeti Bank (Central Bank of Hungary), vol. 7(2), pages 7-13, June.
  • Handle: RePEc:mnb:bullet:v:7:y:2012:i:1:p:7-13

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    References listed on IDEAS

    1. Lown, Cara & Morgan, Donald P., 2006. "The Credit Cycle and the Business Cycle: New Findings Using the Loan Officer Opinion Survey," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(6), pages 1575-1597, September.
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    4. Bernanke, Ben S & Blinder, Alan S, 1988. "Credit, Money, and Aggregate Demand," American Economic Review, American Economic Association, vol. 78(2), pages 435-439, May.
    5. Giovanni Dell’Ariccia & Deniz Igan & Luc Laeven, 2012. "Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 367-384, March.
    6. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    7. Jesper Berg & Annalisa Ferrando & Gabe de Bondt & Silvia Scopel, 2005. "The bank lending survey for the euro area," Occasional Paper Series 23, European Central Bank.
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    More about this item


    vouchers; cafeteria vouchers; voucher cards; pre-paid cards; SZÉP Card (Széchenyi Recreation Card); government policy and regulation;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs


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