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Slovakia Country Report

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  • Published Date: August 2016

A comprehensive overview of the cards, payments and consumer banking market in Slovakia.


  • Slovakia's economy has performed strongly in recent years, driven by exports of electronic goods and cars. Unemployment is high (standing at 11.5 per cent at the end of 2015) but has fallen from a level of 14.2 per cent in 2013.
  • Consumer credit has grown in popularity, with the ratio of consumer lending to GDP increasing: from 22 per cent in 2009 to 33 per cent in 2015.
  • Consumer lending regulations were updated in 2015 to provide greater transparency, increase supervision of lenders and enhance consumer protection.
  • The introduction of stricter qualification criteria for institutions applying for a licence to provide consumer loans, as well as the increase in administrative costs, will create a challenging environment for non-bank lenders.
  • Cash continues to be the dominant payment mode in Slovakia. However, the use of payment cards has grown significantly since the country joined the eurozone in 2009.
  • Debit cards dominate the payment cards market, accounting for 85 per cent of cards in issue and 95 per cent of billed volume in 2015.
  • Contactless cards, boasting the second-highest penetration in Europe, have reached a tipping point: only Poland is ahead in terms of penetration.
  • At the end of 2015, 75 per cent of cards in circulation and 77 per cent of POS terminals were contactless-enabled.
  • Barring meagre profits in 2013 and 2014, the Slovakia credit cards market has faced losses since 2009. In 2015, the pre-tax loss was an estimated $20 million.
  • Merchant acquiring in Slovakia has traditionally been carried out by the leading issuing banks, but this is set to change with Global Payments entering the market through a joint venture.

Slovakia Payments Research | Report Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our credit card data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume


Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Europe. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.

See more European country reports or explore cards & payments research reports for 72 markets worldwide.

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