SLOVAKIA

Support your e-commerce growth in this burgeoning market

Slovakia stands as the third fastest growing economy within the Eurozone. 

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5.4 Million 

117 World Rank 

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77% Bank Account 

17% Credit Card 

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$1 Billion E-commerce Market 

3 Million Internet Shoppers 

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65% Penetration 

60% M-commerce Share 

Slovakia – although amongst the smaller, less populated countries within Eastern Europe, sees quick economic growth, positioning it on the third spot in the Eurozone. Over 85% of the population in Slovakia - double the world average -  has access to the internet, creating a flourishing environment for e-commerce growth. In 2017 alone, e-commerce witnessed a 21% uptake, leading to a turnover accounting for approximately $1 billion. Over the past three years, cross-border e-commerce has equally increased by 3% due to the online shoppers’ desire for increased variety and availability of lower prices. Additionally, Slovakia’s government is channelling its efforts towards providing country-wide high-speed internet connectivity by 2020. Currently, the average online shopping basket size amounts to $231, however with this amount expected to rise to $297 by 2021.

Slovakia Country Map PayU

Slovakia hosts a relatively highly banked population amounting to 77%, however credit card usage in the country is still quite low, with a penetration of 17%. Customers paying for higher ticket items using credit cards have the possibility to pay in instalments, however, only through local loan companies. Online banking is another popular alternative for transacting online, typically in the form of online bank transfers, also known as Pay-by-Links. Additionally, e-wallet solutions like MasterPass and Visa Checkout are gaining great traction from online consumers. Such payment methods are fairly popular considering setting up bank accounts require no additional fees.

Understanding the locally preferred online payment methods, as well as the general e-commerce trends and landscape, PayU enables merchants with a strong footing to expand remarkably in Slovakia. A local entity for both card and APM processing is not required, however, having a local entity within the European Economic Area (EEA) is a must.

Payment Methods Available in Slovakia With PayU

Credit and Debit Cards 

Visa Logo
Mastercard Logo
Visa Electron Logo
Accept payments with Maestro Cards through PayU

eWallets

Masterpass Logo
Logo of Visa Checkout

Bank Transfer (via partner)

Tatrapay
Slovenska Sporitelna
csob
VUB Banka
Postova Banka
Uni Platba