The Czech Republic has emerged as Europe’s frontrunner in contactless payments, with Spain following closely behind. In a remarkable shift, electronic payments through smartphones and smartwatches now account for more than half of all transactions in the country, while traditional card insertions have dwindled to a mere one percent.
The transformation has been swift and dramatic. While only about two percent of Czechs used electronic payment methods in 2019, today smart devices dominate the payment landscape, with mobile phones and smartwatches leading the charge. Surprisingly, tech-savvy nations like Slovenia and the Netherlands lag behind, with their mobile payment adoption rates falling ten percent below Czech levels.
Among payment platforms, Apple Pay claims half of the market share, while Google Pay accounts for 40 percent of transactions. The remaining ten percent is divided between Garmin Pay and other payment methods. The latest innovation in this space – payment rings – currently represents just a fraction of transactions but shows promise for future growth.
This digital payment revolution has also influenced shopping habits. The Czech Republic now boasts more than fifty fully automated, staff-free stores – a higher per capita rate than neighboring Germany. “This dynamic growth reflects a significant shift in Czech consumer payment behavior, with an increasing preference for fast, convenient, and digital payment methods,” notes company CEO Tomáš Furinda.