Slovakia Cards and Payments: Opportunities and Risks to 2028

Slovakia Cards and Payments: Opportunities and Risks to 2028

Summary

GlobalData’s ‘Slovakia Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Slovakian 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 (2024f–28f). 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 ‘Slovakia Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Slovakian cards and payments industry, including -

• Current and forecast values for each market in the Slovakia's cards and payments industry, including debit, credit and charge 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 Slovakia's cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Slovakia's cards and payments industry.

Scope

• The growing adoption of contactless cards is driving the use of cards for payments. The number of contactless cards in Slovakia rose from 5.5 million in 2019 to 6.1 million in 2023e. In line with this trend, transport companies are increasingly offering contactless options. In November 2023, Slovakian public transport company Integrated Transport System launched a contactless payment solution in Banska Bystrica. The system enables travelers in the city to tap contactless payment cards on electronic terminals installed on buses to pay for fares.
• The growing adoption of contactless cards is driving the use of cards for payments. The number of contactless cards in Slovakia rose from 5.5 million in 2019 to 6.1 million in 2023e. In line with this trend, transport companies are increasingly offering contactless options. In November 2023, Slovakian public transport company Integrated Transport System launched a contactless payment solution in Banska Bystrica. The system enables travelers in the city to tap contactless payment cards on electronic terminals installed on buses to pay for fares.
• Post-pandemic, the credit and charge card market faced new challenges in the form of geopolitical uncertainty caused by the Russia/Ukraine conflict and rising inflation. Yet the market has remained mostly resilient, registering transaction volume and value growth of 9.9% and 9% respectively in 2023e. To tame inflation, the European Central Bank has gradually increased its benchmark interest rate. In September 2023, the rate was revised to 4.5%—up from 1.50% in September 2022. With Slovakia’s economy recovering and inflation having plummeted as of the time of writing, a rise in credit and charge card spending is expected going forward.

Reasons to Buy

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