Market Research Report
Payments Landscape in the Czech Republic: Opportunities and Risks to 2022
|Published by||GlobalData||Product code||617701|
|Published||Content info||52 Pages
Delivery time: 1-2 business days
|Payments Landscape in the Czech Republic: Opportunities and Risks to 2022|
|Published: April 17, 2019||Content info: 52 Pages||
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 -
The report "Payments Landscape in the Czech Republic: Opportunities and Risks to 2022" enables the user to -
Companies Mentioned: Erste Bank, KBC Bank, Societe Generale Group, MONETA Money Bank, Raiffeisen Bank, UniCredit Bank, Citibank, Visa, Mastercard, Diners Club