Payment Card Year Books

Slovakia Statistical Report 2024

Name: Slovakia Statistical Report 2024
Brand: Payment Card Year Books
Price: 270.00 GBP
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£270.00

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INTRODUCTION

Slovakia is a parliamentary democratic republic with a multi-party system. Slovakia became a member of the European Union in 2004 and the euro zone in 2009.

With Slovakia already one of the most prolific markets for contactless payments in the CEE region, Slovakians are avid users of mobile payments through a range of apps and bank mobile platforms. Overall, in 2022, domestically issued payment cards were used to make more than 158.78 million mobile payments, and the total value of these transactions was €3,474.7 million. Mobile payments are expected to accelerate over the next few years as Slovakia ramps up FinTech investments.

Slovakia is an attractive country for foreign investors mainly because of its low wages, low tax rates, educated labour force, favourable geographic location in the heart of Central Europe, strong political stability and good international relations. Slovakian regulators are preparing for the country to become a FinTech hub in the CEE region, with the launch of a development sandbox being rolled out. Slovakia is aiming to become a prime destination for FinTech firms, particularly those that previously were based in the UK pre-Brexit and are now relocating to EU countries.

The adoption of the revised Payment Services Directive, PSD2, and disruptive technologies have set the stage for digital payments for the digital economy in Slovakia. They have accelerated digital payment transformation and mobile payment services, as well as cardless IBAN-based payments directly from bank accounts.

In the last decade, Slovakian consumers have embraced mobile devices such as tablets, smartphones and Internet of Things (IoT). This change significantly impacts their shopping experience. Consumers have become increasingly connected and they have started to purchase anywhere, at any time, from any device.

In addition, new consumer demands are a game changer. Slovakian consumers like digital banking apps with access to all their accounts at different banks in one single app, with the option to make payments directly from their bank account of choice. Additionally, they appreciate more banking services and payment services added to their mobile banking app. Consumer adoption of digital payments in Slovakia is driven by minimal cost, secure payments and a high level of user convenience.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.