Slovakia Cards and Payments – Opportunities and Risks to 2024

GlobalData’s ‘Slovakia Cards and Payments – Opportunities and Risks to 2024' report provides detailed analysis of market trends in the Slovak cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including ash, cards, credit transfers, direct debits, and cheques during the review-period (2016-20e).

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 (2020e-24f). 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.

This report provides top-level market analysis, information and insights into the Slovak cards and payments industry, including –

– Current and forecast values for each market in the Slovak 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.

– E-commerce market analysis.

– Analysis of various market drivers and regulations governing the Slovak cards and payments industry.

– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.


– The National Bank of Slovakia (NBS) approved a plan to introduce a domestic instant payment solution in December 2019. In February 2021, Slovakia’s three major banks – Slovenská sporiteľňa, VUB banka, and Tatra banka (which is part of Raiffeisen Bank) – signed up to the plan and are likely to introduce the service from February 2022. However, it is not yet clear whether the banks will completely replace the existing payment system with instant payments, or instead offer instant payments as a separate service at additional cost. Once implemented, users will be able to make payments in less than 10 seconds. The solution is expected to be offered to both individuals and businesses.

– Digital-only banks are helping boost competition in the banking space, which in turn drives debit card holding. is a Slovakia-based mobile-only bank that was launched in November 2018. The bank offers a free account with a virtual Mastercard debit card. In April 2019 it became the first bank in Slovakia to enable customers to make payments using wearable devices via Fitbit Pay and Garmin Pay. Meanwhile, in March 2021, UK-based digital-only bank Revolut entered the market. It offers Standard, Plus, Premium, and Metal accounts with debit cards.

– In September 2019, Strong Customer Authentication was enforced by the European Commission to increase payment security. The rule mandates all payment service providers to adopt procedures to verify customers’ identity when making online card payments. Providers can use any method – including SMS, passwords, PINs, biometric data/fingerprints, tokens, or control questions – to authenticate payments. Another regulation was passed in September 2019 that requires customers to enter their PIN for contactless payments by credit card if they pay an amount less than or equal to €20 ($24.46) five times in a row or if the total value of multiple transactions exceeds €150 ($183.42).

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Slovak cards and payments industry and each market within it.

– Understand the key market trends and growth opportunities in the Slovak cards and payments industry.

– Assess the competitive dynamics in the Slovak cards and payments industry.

– Gain insights into marketing strategies used for various card types in Slovakia.

– Gain insights into key regulations governing the Slovak cards and payments industry.

Companies mentioned

Slovenska sporiteľna

Raiffeisen Bank

VUB banka


UniCredit Bank

OTP Banka



Apple Pay

Google Pay



Table of Contents

Table of Contents

Payment Instruments

Card-based Payments

Ecommerce Payments

Alternative Payments

Job Analysis

Payment Innovations

Payments Infrastructure & Regulation



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