Slovakia’s cards and payments channel is anticipated to reach a CAGR of over 2% by 2108

Wednesday 4 June 2014, Amsterdam

Report description overview:

The new report, now available on ASDReports, Cards and Payments industry in Slovakia – Research Report identifies that the Slovakian cards and payments channel is expected to reach over 6 million cards by the end of 2018.  By purchasing this report you will secure a proper understanding of the cards and payments industry in Slovakia, which will enable you to amend your business plans accordingly to allow maximum sales. You will gain an understanding of the key factors driving the cards and payments industry in Slovakia, enabling you to identify the growth opportunities and market dynamics.

The difference:

• Confidently update your strategic business decisions by using top-level historic and forecast market data related to Slovakia’s cards and payments industry and each market within it, to gain a better understanding of the market.
• Understand the key market trends and growth opportunities within Slovakia’s cards and payments industry, gaining the upper hand over competitors.
• Gain insights into the key marketing strategies used for selling various card types in Slovakia, to better position your business for future growth.  

Additional report highlights:

• The Slovak economy remained resilient to the European sovereign debt crisis due to a sound banking system and prudent government spending. Ongoing government reforms in education, training, the labor market, taxation and infrastructure are likely to spur economic growth from 2014–2019, which will have a direct impact on the Slovak cards and payments industry.
• While debit cards remained the preferred payment channel during the review period, the economic crisis and high levels of unemployment opened doors for alternative channels such as charge and prepaid cards. Charge cards are popular among Slovak businesses and are used to meet temporary credit requirements. Moreover, firms can benefit from an interest-free credit period by paying outstanding amounts at the end of the due date. It is anticipated that charge cards will continue to remain popular with businesses.
• Retail customers, however, are showing an increasing inclination towards prepaid and debit cards. While prepaid cards are popular in other European countries, their entry in Slovakia has been late. However, with banks aggressively promoting prepaid cards and developing their card portfolios, prepaid cards are becoming increasingly popular. As consumer spending becomes increasingly prudent, prepaid cards are anticipated to become popular among Slovak consumers over the forecast period. Purchase this report to discover more!