Czech Republic Cards and Payments – Opportunities and Risks to 2027

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Czech Republic Cards and Payments Market Report Overview

The annual value of card transactions in the Czech Republic cards and payments market was $75.6 billion in 2023 and will grow at a CAGR of more than 11% during 2023-2027. The country’s payment card market is mainly driven by debit cards as consumers are gradually replacing cash with debit cards for low-value transactions.

Czech Republic Card Transactions Outlook, 2023-2027 ($ Billion)

Czech Republic Card Transactions Outlook, 2023-2027 ($ Billion)

Buy the Full Report for More Information on the Czech Republic Cards and Payments Market Forecast Download a Free Sample Report

The Czech Republic cards and payments market research report provides a detailed analysis of market trends influencing the industry. It provides transaction values and volumes for several payment instruments for the review period. In addition, the Czech Republic cards and payments market analysis offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also entails regulatory policy details and provides extensive coverage of any recent changes in the regulatory structure.

Annual Card Transactions Value (2023) $75.6 billion
CAGR (2023-2027) >11%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Payment Instruments ·        Cards

·        Cash

·        Credit Transfers

·        Direct Debits

·        Cheques

Key Segments ·        Card-Based Payments

·        E-commerce Payments

·        Alternative Payments

Leading Players ·        Raiffeisen Bank

·        Societe Generale Group

·        MONETA Money Bank

·        Česká spořitelna

·        ČSOB

·        Others

Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

Czech Republic Cards and Payments Market Dynamics

Debit cards accounted for the highest payment card transaction value in 2023e, supported by a growing banked population. Growth in the usage of debit cards was also aided by government financial inclusion initiatives, the opening of digital bank accounts, value-added benefits provided by banks to encourage debit card payments, and the rising consumer preference for contactless payments.

The Czech ecommerce market is one of the fastest growing in Europe because of the rising internet and smartphone penetration. Online shopping events such as Black Friday and Cyber Monday have also driven the performance of the ecommerce market.

Buy the Full Report to Get Additional Czech Republic Cards and Payments Market Dynamics

 Download a Free Sample Report

Czech Republic Cards and Payments Market Segmentation by Payment Instruments

Cash had the highest share of payment transaction volume in 2023

The key payment instruments in the Czech Republic cards and payments market are cards, cash, credit transfers, direct debits, and cheques.

Cash maintains a secure position in the country’s payment landscape and is mainly used for day-to-day, low-value transactions. The government is taking several financial inclusion initiatives to reduce dependency on cash usage among Czechs. Furthermore, the growing adoption of instant payments and contactless payments will ease dependency on cash.

Czech Republic Cards and Payments Market Analysis by Payment Instruments (Volume), 2023 (%)

Czech Republic Cards and Payments Market Analysis by Payment Instruments (Volume), 2023 (%)

Buy the Full Report for More Payment Instrument Insights into the Czech Republic Cards and Payments Market

 Download a Free Sample Report

Czech Republic Cards and Payments Market Segments

The key segments in the Czech Republic cards and payments market are card-based payments, e-commerce payments, and alternative payments.

Card-Based Payments: Growth in banking penetration, increased financial-awareness among citizens, and efforts by banks to promote electronic payments have supported the growth of the payments card market.

The debit card segment accounted for the highest share of cards in circulation, transaction volume, and transaction value in the country’s payment cards market in 2023. In line with EU directives, every citizen is entitled to a bank account offering basic features including a debit card, cash withdrawals, and payment transfers. As a result, banks offer low-cost bank accounts to serve the unbanked population.

Buy the Full Report for More Market Segment Insights into the Czech Republic Cards and Payments Market

Download a Free Sample Report

Czech Republic Cards and Payments Market - Competitive Landscape

A few of the leading players in the Czech Republic cards and payments market are Raiffeisen Bank, Societe Generale Group, MONETA Money Bank, Česká spořitelna, ČSOB among others.

Czech Republic Cards and Payments Market Analysis by Players, 2023

Czech Republic Cards and Payments Market Analysis by Players, 2023

Buy the Full Report to Know More about the Players in the Czech Republic Cards and Payments Market  Download a Free Sample Report

Key Developments

  • In April 2023, German-based retailer Kaufland launched its online marketplace. This was followed by Poland-based retailer Allegro launching its own marketplace in the Czech Republic in May 2023.
  • In September 2022, Sweden-based BNPL provider Klarna launched in the Czech Republic. It offers both immediate and credit options for ecommerce purchases, allowing customers to make payments within 30 days of receiving their items.

Segments Covered in the Report

Czech Republic Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)

  • Cards
  • Cash
  • Credit Transfers
  • Direct Debits
  • Cheques

Czech Republic Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)

  • Card-Based Payments
  • E-commerce Payments
  • Alternative Payments

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

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

Česká spořitelna
ČSOB
Societe Generale Group
Raiffeisen Bank
Air Bank
MONETA Money Bank
UniCredit Bank
Equa Bank
Mastercard
Visa
Diners Club
Czech National Bank

Table of Contents

Executive Summary

Market Overview

Payment Instruments

Card-Based Payments

Ecommerce Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

Czech Republic Cards and Payments – Opportunities and Risks to 2027 standard reports
Currency USD
$2,750

Can be used by individual purchaser only

$8,250

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Czech Republic Cards and Payments – Opportunities and Risks to 2027 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS

Related reports

View more Payments reports
Financial Services
New
France Life Insurance Market Size and Trends by Line of…
$3,999 | June 2024
Financial Services
New
Wealth Management Trends and Themes in 2024
$5,250 | May 2024
Financial Services
New
Peru Insurance Industry - Key Trends and Opportunities to 2028
$1,450 | May 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Czech Republic Cards and Payments – Opportunities and Risks to 2027 in real time.

  • Access a live Czech Republic Cards and Payments – Opportunities and Risks to 2027 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.