Market Research Report
Payments Landscape in the Czech Republic: Opportunities and Risks to 2021
|Published by||GlobalData||Product code||617701|
|Published||Content info||47 Pages
|Payments Landscape in the Czech Republic: Opportunities and Risks to 2021|
|Published: March 8, 2018||Content info: 47 Pages||
Cash remains the preferred method of consumer payment, accounting for over 65% of total transaction volume in 2017. Consumers generally use cash for day-to-day, low-value transactions. However, its use declined during the review period due to a growing preference for payment cards and an increase in contactless transactions. The total number of payment card transactions recorded a strong review-period compound annual growth rate (CAGR) of more than 17% from about 542 million in 2013 to more than 1 billion in 2017. The government's financial inclusion initiatives, increased consumer confidence, and improved payment infrastructure all helped drive this growth. The advent of contactless technology and a robust e-commerce market also supported the growth of the payment card market. The frequency of payment card use increased while average transaction value decreased from CZK1, 747.70 (about $82) in 2013 to CZK1,277.70 (around $60) in 2017 as a result of the migration of low-value cash payments to payment cards.
The report "Payments Landscape in the Czech Republic: Opportunities and Risks to 2021", 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, direct debit, credit transfers, payment cards, and cheques during the review-period (2013-17e).
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 (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.
Companies mentioned in this report: Ceskasporitelna, Erste Bank, CSOB, KBC Bank, Komercnibanka, SocieteGenerale Group, MONETA Money Bank, Raiffeisen Bank , Visa, Mastercard, and Diners Club.