Czech Mobile & Watch Payments: Low Adoption Rates

by Archynetys Economy Desk

Surprisingly, Slovenia and the Netherlands are on the tail, where people pay ten percent less transactions with the help of the phone than in the Czech Republic, Global Payments said.

While only about two percent of Czechs used electronics in 2019, today it accounts for over half of all cashless payments via smart devices, most often mobile phones and smart watches.

“This dynamic increase shows a significant change in the payment behavior of Czech consumers who are increasingly preferred by fast, comfortable and digital ways of paying,” said the company CEO Tomáš Furinda.

Also interesting is the view of operating systems that Czechs use for payments. Half of them apply via Apple Pay, Google Pay uses 40 percent, and the remaining tenth prefer Garmin Pay and other methods.

The novelty, which is still in Czechs, is paying using special rings. It currently consists of units of per mille of all transactions, but even this method has the potential to grow in the future.

Quick shift to digitized payment behavior is also reflected in the way of shopping. Czechs have liked buying in fully unattended stores, which are already more than fifty in the Czech Republic. In terms of population, this type of shops is more widespread than in neighboring Germany.

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