CZECH REPUBLIC

Rapidly advancing e-commerce prospects in the Czech Republic

The Czechs are widely recognising shopping online as a phenomenon of convenience in their day-to-day lives. 

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11 Million

87 World Rank 

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82% Bank Account 

28% Credit Card 

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$5 Billion E-commerce Market

5 Million Internet Shoppers 

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59% Penetration 

8% M-commerce Share 

The Czech Republic is a rapidly advancing Central European economy with a current e-commerce turnover of $5 billion, having witnessed a 20% growth in 2016 alone. E-commerce has experienced booming growth over the past few years, as the locals see it as an asset to their day-to-day lives. Cross-border e-commerce in the Czech Republic itself is seeing a rapid growth of 39%, ranking amongst the top three countries in the EU with enormous potential.

The primary growth factors of e-commerce lie with the country’s large internet penetration standing at a whopping 88%, while simultaneously, a massive smartphone penetration level of 59%, which is higher than the Central and Eastern European average of 48%. In light of this, m-commerce is witnessing rapid growth as mobile based visits to online shops have doubled in the past two years.

Czech Republic Country Map PayU

Cash on delivery remains a pre-dominant payment method for online shoppers despite the country being subject to a large banked population, accounting for 82%. Transacting online is a recent phenomenon, however, slowly-but-surely Czechs are gaining familiarity with purchasing online and paying through electronic means.

Credit card usage for online transaction stands at 17%, however, it is envisioned to grow in the coming years to become a prefered payment method. Credit cards offer the ability to pay for higher ticket items in monthly installments, ultimately increasing basket sizes due to higher purchasing power,

Banking facilities are becoming more of a norm in the Czech Republic as bank transfers, also frequently known as pay-by-links (PBL), are popular ways of paying for online purchases. PayU enables merchants to provide their customers with access to purchasing using pay-by-link bank transfers through all 10 local Banks. Simultaneously, e-wallet solutions like masterpass and Visa Checkout are not only widely accessible but are also gaining a positive reputation.

PayU’s profound understanding of the Czech market and acquaintance with local e-commerce and payments trends aids merchants with the ability to offer their customers with payment methods they are most comfortable paying with.

Payment Methods Available in the Czech Republic With PayU

Credit and Debit Cards

Visa Logo
Mastercard Logo
Visa Electron Logo
Visa Debit
mastercard debit

Pay by Link (Bank Transfer)

Mbank
era
ČSOB
KB
Fio Banka
Ceska Sporitelna
Moneta
Raiffeisen
UniCredit
Sberbank

Alternatives

Offer Google Pay to your customers
Masterpass Logo
Logo of Visa Checkout