Slovakia Cards and Payments – Opportunities and Risks to 2025
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The Slovakia cards and payments market size was $18.7 billion in 2021. The market is projected to achieve a CAGR of more than 8% during the forecast period. The Slovakian payment card market is mainly driven by debit cards. Slovakians are gradually replacing cash with debit cards for low-value transactions. The adoption of contactless technology, a growing eCommerce market, and banks offering discounts and rewards will support the growth of the credit and charge card market.
The Slovakia cards and payments report provides a detailed analysis of market trends in the Slovakia cards and payments industry. It provides values and volumes for several key performance indicators in the industry, including cash, cards, credit transfers, direct debits, and cheques during the review period. 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. It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
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Slovakia Cards and Payments Market Dynamics
Slovakia does not have an instant payment system. However, in January 2022, the National Bank of Slovakia (NBS) launched SEPA Instant Credit transfers in the country via three major banks. Furthermore, to benefit from the growing eCommerce market in Slovakia, international players are launching online platforms in the country. The rise in eCommerce will drive electronic payments, as bank transfers and payment cards are the preferred methods of payment for eCommerce purchases. Digital-only banks are helping to boost financial inclusion in the country as well.
Key Payment Instruments in Slovakia Cards and Payments Market
The key payment instruments in the Slovakia cards and payments market are cards, cash, credit transfers, direct debits, and cheques. Slovakia is a cash-based economy, with cash typically used for day-to-day transactions. However, following a gradual rise in electronic payments and the outbreak of the pandemic, cash transactions have declined. The emergence of contactless technology has gradually pushed consumers to adopt payment cards, thereby reducing the volume of cash transactions.
Slovakia Cards and Payments Market, by Payment Instruments
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Key Segments in the Slovakia Cards and Payments Market
The key segments in the Slovakia cards and payments market are card-based payments, e-commerce payments, and alternative payments.
Key Players in the Slovakia Cards and Payments Market
The key players in the Slovakia cards and payments market are Slovenska sporiteľna, Raiffeisen Bank, VUB banka, CSOB, UniCredit Bank, OTP Banka, Visa, Mastercard, Apple Pay, and Google Pay.
Slovakia Cards and Payments Market Report Overview
Market Size (2021) | $18.7 billion |
CAGR | >8% |
Forecast Period | 2022-2025 |
Key Payment Instruments | Cards, Cash, Credit Transfers, Direct Debits, and Cheques |
Key Segments | Card-Based Payments, E-Commerce Payments, and Alternative Payments |
Key Players | Slovenska sporiteľna, Raiffeisen Bank, VUB banka, CSOB, UniCredit Bank, OTP Banka, Visa, Mastercard, Apple Pay, and Google Pay |
Scope
This report provides:
- Current and forecast values for each market in the Slovakia cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cards, cash, 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 Slovakia 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 cards and payments industry.
Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Slovakia cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Slovakia cards and payments industry.
- Assess the competitive dynamics in the Slovakia cards and payments industry.
- Gain insights into marketing strategies used for various card types in Slovakia.
- Gain insights into key regulations governing the Slovakia cards and payments industry.
Raiffeisen Bank
VUB banka
CSOB
UniCredit Bank
OTP Banka
Visa
Mastercard
Apple Pay
Google Pay
Masterpass
PayPal
Table of Contents
Frequently asked questions
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What was the Slovakia cards and payments market size in 2021?
The Slovakia cards and payments market size was $18.7 billion in 2021.
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What is growth rate of the Slovakia cards and payments market?
The Slovakia cards and payments market is projected to achieve a CAGR of more than 8% during the forecast period.
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What are the key payment instruments in the Slovakia cards and payments market?
The key payment instruments in the Slovakia cards and payments market are cards, cash, credit transfers, direct debits, and cheques.
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What are the key segments in the Slovakia cards and payments market?
The key segments in the Slovakia cards and payments market are card-based payments, e-commerce payments, and alternative payments.
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Who are the key players in the Slovakia cards and payments market?
The key players in the Slovakia cards and payments market are Slovenska sporiteľna, Raiffeisen Bank, VUB banka, CSOB, UniCredit Bank, OTP Banka, Visa, Mastercard, Apple Pay, and Google Pay.
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