Czech Republic Cards and Payments Opportunities and Risks to 2027

Czech Republic Cards and Payments Opportunities and Risks to 2027

Summary

GlobalData’s ‘Czech Republic Cards and Payments: Opportunities and Risks to 2027' report 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, direct debits and cheques during the review-period (2019-23e).

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 (2023e–27). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Czech Republic Cards and Payments: Opportunities and Risks to 2027' report provides top-level market analysis, information and insights into the Czech Republic's cards and payments industry, including -

• Current and forecast values for each market in the Czech Republic's cards and payments industry, including debit, credit cards.
• Detailed insights into payment instruments including cash, cards, credit transfers, direct debits and cheques. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce 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 cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Czech Republic's cards and payments industry.

Scope

The Czech National Bank (CNB), the country’s central bank, is playing a key role in promoting digital payments in the country. As an example, in November 2023, the CNB collaborated with six banks, namely Air Bank, Raiffeisenbank, Ceska sporitelna, Fio Banka, CSOB, and Komercni Banka, to launch a payment service called Platba na contact (Pay a Contact). The solution allows P2P fund transfers and online payments simply by selecting the recipient’s mobile number, eliminating the need for bank account details. The solution works with Czech and Slovak mobile numbers only. Customers of participating banks can transfer between each other using their mobile numbers, to a maximum transfer limit of CZK5,000 ($221.55). Two more banks, UniCredit Bank and MONETA Money Bank, are set to join this payment service in 2024.

Czech payment infrastructure is poised for a significant transformation, as the number of payment terminals in the country will reach 312,337 in 2027, having increased at a CAGR of 7.8% from 2023. This progress will be partially driven by the government-led initiative called Czechia Pays by Card, which was launched in 2020. As part of the program, self-employed individuals and SMEs were offered POS terminals free of charge for six months. This scheme was extended until March 31, 2025, to further promote POS uptake among small merchants.

To capitalize on the growing ecommerce market, an increasing number of companies are launching online services. German-based retailer Kaufland launched its online marketplace in April 2023. This was followed by Poland-based retailer Allegro launching its own marketplace in the Czech Republic in May 2023. The arrival of international ecommerce brands is set to increase competition in the sector.

Reasons to Buy

GlobalData’s ‘Czech Republic Cards and Payments: Opportunities and Risks to 2027' report provides top-level market analysis, information and insights into the Czech Republic's cards and payments industry, including:

• 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 Czech Republic.
• Gain insights into key regulations governing the Czech Republic's cards and payments industry.