A recent survey by Barion and Ipsos revealed that one in three Czechs use digital wallets for shopping, either in physical stores or online. The digital wallet is a popular payment method among young people, with almost half of the 18-26 age group using it. Balázs Judik from Barion says the digital wallet is a trusted and secure intermediary between a user’s bank account and online payments.
The survey also found that Czechs store smaller amounts of money in their digital wallets. Almost three-quarters of respondents mentioned amounts under two thousand Czech crowns, with only one in ten storing more than five thousand crowns. Men tend to store higher amounts of money in their digital wallets and use them more frequently than women.
Nearly half of the digital wallet users prefer to use them for online payments, while just under two-fifths use them in physical stores. Most (85%) digital wallet owners pay with their smartphones, while about 8% mention smartwatches. Tablet use is more common among older generations.
The survey revealed that three out of ten Czechs believe digital wallets could soon replace cash payments. More than two-fifths of young people share this opinion. Men and people living in larger cities are likelier to believe digital wallets could replace cash.
The survey shows that digital wallets are becoming increasingly popular among Czechs, especially young people. They are seen as a trusted and secure payment method, and many believe they could eventually replace cash payments.