Hungarian GDP contracted by -6.8% in 2009, impacting the overall banking and financial services industry. The economy recovered in 2010 and 2011, but contracted again in 2012. However, it is expected to record robust growth over the forecast period, with real GDP growth rising from 1.26% in 2014 to 1.61% in 2018. Improved GDP growth, rising per capita income and low inflation are expected to raise consumer confidence and increase spending, resulting in an increased scope for card-based transactions. This will be further supported by rising online and mobile penetration, and the emergence of Europay, MasterCard and Visa (EMV) cards, near-field communication (NFC) technology, and mobile wallets.