The Czechs are among the leaders for electronic payments

by   CIJ News iDesk III
2021-09-09   09:08

Electronic payments are made by Europeans. Czechs are among the leaders in contactless payment, according to a survey by the EVO group in Europe

Europeans began to prioritize electronic payments during the coronavirus pandemic. In a study entitled "Did covid-19 affect the shopping habits of Europeans?" this was confirmed by almost 80 percent of participants. The survey for the EVO group in seven European countries, including the Czech Republic, was provided by the research institute ARC Rynek i Opinia. Visa was a partner of this survey in the Czech Republic.

The pandemic has accelerated changes in purchasing and payment behavior, which have been evident in our country and abroad for several years. When it comes to shopping in traditional stores, paying by cash and card are similarly popular methods among Czechs. 95 percent of respondents signed up for them, but they already see their future differently.

Roughly 22 percent of respondents expect to pay by card more often after the end of the pandemic, and only 8 percent plan to use payment cards less. This is the reverse trend for cash. Only 11 percent of respondents plan more frequent cash payments, and about twice as many said they would pay less in cash. The survey also shows that during the pandemic, we lacked the most travel (47 percent), restaurant visits (37 percent) and culture (35 percent).

"The change that people are prepared to make in the way we pay has huge potential for all of us, but especially for merchants. Czechs want to pay more by card or contactlessly in small shops and establishments, and they are even prepared to spend more in this case than with cash payments. A quarter of people say that it would leave more spending in restaurants, cafes, bakeries and grocery stores in this way, "comments Kateřina Štěrbová, CEO of EVO Payments in the Czech Republic, adding:" We no longer see the possibility of choosing a payment method as something extraordinary, but as an absolute standard. Ensuring convenient, reliable and safe customer service is a task not only for us at EVO, but also a great opportunity for salespeople, who can thus increase their business and earn more.”

"But it also turns out that Czechs are more conservative in some areas than other Europeans. Although we are leaders in contactless payments, we use cards more often. We don't use much smart watches or smart wallets on mobile phones yet, and we don't even plan to do that, as almost a third of the respondents told us in the survey," adds Kateřina Štěrbová.

How did the pandemic affect the shopping habits of Czechs?
As a result of pandemic restrictions and the closure of brick-and-mortar stores, Czechs have begun to shop more online, with 71 percent of Czechs paying online with a card. Much more often, they use cash on delivery at delivery points or directly at the courier. 60 percent here pay by card or cash, and the two methods alternate differently.

Other changes in payment can be noticed in brick-and-mortar stores. 69 percent of respondents expect to shop in them as often as before the pandemic, and only 15 percent plan more frequent visits. Only 11 percent of people in our stone shops want to pay cash.

New customer habits are evident elsewhere in Europe.

"Cashless payments are no longer just a matter of convenience for Europeans, but a necessity. Over 80 percent of Visa payments in stores on our continent are now contactless. We are happy that together with our partners we can help small European companies adapt to new customer preferences and enable their customers to pay with the method that is most convenient for them, ” says Petr Polák, Visa country manager for the Czech Republic.

In terms of preferred payment methods and shopping behavior, the survey revealed three main consumer segments. The largest group, making up about half of the Europeans interviewed, can be described as alternating payment methods - they pay both in cash and electronically. The circumstances surrounding the pandemic have persuaded them to shop more often online. The second segment (31 percent of respondents) are modern contactless payers. They prefer electronic payment methods and most of them think that digital payments will prevail in the future. The smallest segment (21 percent of European respondents) are cash-oriented traditionalists.

"The wide availability of modern payment methods provided by EVO has enabled Europeans to better cope with the restrictions and limitations during the Covid-19 pandemic. European customers felt that they could shop securely thanks to contactless payment methods that reduce the risk of transmitting the virus. they are reflected in our shopping habits, they are irreversible, we get used to good things easily, so we work hard to make electronic payment instruments even more accessible, ”says Darren Wilson, President of EVO Payments International, responsible for the European market.

Source: CTK