1. Market Research
  2. > Financial Services
  3. > Banking
  4. > Payments Market Trends
Payments Landscape in the Czech Republic: Opportunities and Risks to 2022

Payments Landscape in the Czech Republic: Opportunities and Risks to 2022

  • April 2019
  • 52 pages
  • ID: 5363199
  • Format: PDF
  • By GlobalData

Summary

Table of Contents

Search Inside

Payments Landscape in the Czech Republic: Opportunities and Risks to 2022

Summary
Cash remains the preferred payment instrument in the Czech Republic, accounting for 62.1% of the total payment transaction volume in 2018. However, the use of payment cards has been growing in line with rising awareness of electronic payments and an increase in the country’s banked population. Debit cards are the most popular card type, and are also increasingly being used for payments as consumers are gradually switching to debit cards for low-value transactions. With the gradual adoption of contactless technology, growth in online payments, the emergence of alternative payment solutions and the introduction of digital-only banks, the payment card market is anticipated to grow further over the forecast period (2018e-22f).

The frequency of debit card payments per card registered a strong review-period CAGR of 19.2%, with 89.3 times in 2018 - much higher than that of ATM cash withdrawals (16.8). Meanwhile, ATV declined with a CAGR of 4.6% over the review period. This suggests that consumers are gradually using debit cards for payments, mainly for low-value transactions.

Credit and charge cards are not very popular in the Czech Republic; penetration stood at 13.1 cards per 100 individuals in 2018. In terms of transaction value and volume, however, credit and charge cards recorded healthy growth, mainly due to rising merchant acceptance and enhanced security measures - a trend that is anticipated to continue over the forecast period.

The Czech Republic’s e-commerce market had robust growth, increasing from CZK67.0bn ($3.0bn) in 2014 to CZK135.0bn ($6.0bn) in 2018, at a review-period CAGR of 19.1%. The growing adoption of e-commerce in the country can be attributed to increasing confidence in e-commerce, online security and a number of webshops. According to a study, 90% of consumers shopped online at least once per year. Banks and card issuers are offering customized cards for online shopping. In addition, the availability of online payment solutions such as PayPal, paysafecard and Masterpass also supported this growth.

The report “Payments Landscape in the Czech Republic: Opportunities and Risks to 2022” provides detailed analysis of market trends in the Czech Republic’s cards and payments industry.It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2014-18e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

The report “Payments Landscape in the Czech Republic: Opportunities and Risks to 2022” provides -

- Current and forecast values for each market in the Czech Republic’s cards and payments industry, including debit, credit and charge cards
- Detailed insights into payment instruments including credit transfers, direct debits, cards, cheques, and cash.It also, includes an overview of the country’s key alternative payment instruments
- E-commerce market analysis
- Analysis of various market drivers and regulations governing the Czech Republic’s cards and payments industry
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards

The report “Payments Landscape in the Czech Republic: Opportunities and Risks to 2022” enables the user to -

- Make strategic business decisions, using top-level historic and forecast market data, related to the Czech Republic’s cards and payments industry and each market within it
- Understand the key market trends and growth opportunities in the Czech Republic’s cards and payments industry
- Assess the competitive dynamics in the Czech Republic’s cards and payments industry
- Gain insights into marketing strategies used for various card types in the Czech Republic
- Gain insights into key regulations governing the Czech Republic’s cards and payments industry

Companies Mentioned: Erste Bank, KBC Bank, Societe Generale Group, MONETA Money Bank, Raiffeisen Bank, UniCredit Bank, Citibank, Visa, Mastercard, Diners Club

Scope
- To regulate services defined under the Second Payment Service Directive (PSD2), the Czech Open Banking Standard was created by the Czech Banking Association.

The service allows banks’ customers to give other companies permission to securely access their accounts. A number of banks such as Bank CREDITAS, CSAS (part of Erste Bank), ?SOB (part of KBC Bank), Air Bank, Komer'ní Banka (member bank of Société Générale Group) and Equa Bank are offering open banking services in the country.
- To offer convenient and faster payments, in November 2018 the Czech National Bank, the country’s central bank, launched an instant payment scheme. The system enables Czech individuals to transfer up to CZK400,000 ($17,805.28) instantly 24 hours a day, seven days a week, 365 days a year. As of March 2019, CSAS, Banka CREDITAS and Air Bank have joined this system, offering services to their customers.
- Contactless payments are gaining popularity in the Czech Republic. According to the Czech Bank Card Association, Czechs used contactless debit cards or smartphones for 853 million times in 2018, in comparison to 638 million times in 2017. To complement the growth in contactless payments, payments facilitated through wearable technology are being introduced in the Czech Republic. Garmin Pay, developed by the manufacturer of wearables and mobile GPS products, Garmin, allows users to make contactless payments using the Garmin Smartwatch. The payment method was launched in the Czech Republic in collaboration with Moneta Money Bank, Visa and Mastercard in September 2018.

Reasons to buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Czech Republic’s cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Czech Republic’s cards and payments industry.
- Assess the competitive dynamics in the Czech Republic’s cards and payments industry.
- Gain insights into marketing strategies used for various card types in the Czech Republic.
- Gain insights into key regulations governing the Czech Republic’s cards and payments industry.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Veronica helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
South Korea Cards & Payments: Opportunities and Risks to 2023

South Korea Cards & Payments: Opportunities and Risks to 2023

  • $ 2750
  • August 2019

South Korea Cards & Payments: Opportunities and Risks to 2023Summary’South Korea Cards & Payments: Opportunities and Risks to 2023’ report provides detailed analysis of market trends in South Korea’s ...

Payments Landscape in Oman: Opportunities and Risks to 2022

Payments Landscape in Oman: Opportunities and Risks to 2022

  • $ 2750
  • June 2019

Payments Landscape in Oman: Opportunities and Risks to 2022SummaryGlobalData’s ’Payments Landscape in Oman: Opportunities and Risks to 2022’ report provides detailed analysis of market trends in ...

Payments Landscape in Romania: Opportunities and Risks to 2022

Payments Landscape in Romania: Opportunities and Risks to 2022

  • $ 2750
  • May 2019

Payments Landscape in Romania: Opportunities and Risks to 2022SummaryCash remains the dominant payment instrument in Romania, accounting for 85.1% of total payment transaction volume in 2018. While high-value ...


ref:plp2019

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on