DUBLIN–(BUSINESS WIRE)–The “Payments
Landscape in the Czech Republic: Opportunities and Risks to 2022”
report has been added to ResearchAndMarkets.com’s
offering.
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. 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).
Debit cards are most popular card type in terms of both the number of
cards in circulation and transaction value. Rising banking penetration,
the debt-averse nature of the Czech consumers and the combined efforts
of banks and government bodies to promote electronic payments and
financial inclusion have led to strong adoption. 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).
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 rising disposable household income, reduction in
the interest rate on loans on credit cards and value-added benefits
offered are expected to drive the adoption of these cards.
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. 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 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
Companies Mentioned
- Erste Bank
- KBC Bank
- Societe Generale Group
- MONETA Money Bank
- Raiffeisen Bank
- UniCredit Bank
- Citibank
- Visa
- Mastercard
- Diners Club
For more information about this report visit https://www.researchandmarkets.com/r/l2cb3i
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Related
Topics: Bank
Cards
