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.
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
Pay by Link (Bank Transfer)