Payments and e-commerce in Slovakia

Discover how Slovaks like to shop and pay online

Slovakia

General Information

Population 5.5 m
Population 15 + 4.6 m
Online population 4.6 m
Area 49,035 km²
Currency EUR
GDP 116.7 bn $US
GDP per capita 21,382 $US

Card-based payments
Cash-based payments
Bank transfer
Wallets
Other

[{"label":"Card-based payments","value":"48"},{"label":"Cash-based payments","value":"27"},{"label":"Bank transfer","value":"14"},{"label":"Wallets","value":"10"},{"label":"Other","value":"1"}]

Banked population

Slovakia 85%
Western & Central Europe 96%
World 67%

Credit card penetration

Slovakia 24%
Western & Central Europe 47%
World 19%

Internet penetration

Slovakia 85%
Western & Central Europe 92%
World 62%

Smartphone penetration

Slovakia 72%
Western & Central Europe 81%
World 70%

M-commerce is becoming increasingly popular so merchants thinking of entering the Slovakian market must ensure their site is optimised for mobile.

The Slovak economy is forecast to grow by 2.3% in 2022 and 3.4% in 2023, however due to the Russo-Ukrainian war, high inflation and disruptions in energy there is uncertainty over growth for the next year.

85% of Slovaks have access to the internet and 84% have shopped online with almost a quarter shopping more than six times in the three months previous to being surveyed.

The most popular e-commerce store in Slovakia in July 2022 is bazos.sk with 19.7 m visits that month.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)

2022 2.6

2023 3.0

2024 3.4

2025 3.7

206 4.1

E-commerce spending per capita ($US)

2022 471

2023 544

2024 617

2025 685

2026 748

E-commerce spending as % of GDP

2022 2.2%

2023 2.4%

2024 2.5%

2025 2.7%

2026 2.8%

Slovakia

The E-Commerce Market

Top e-commerce segments

Fashion: 34%
Electronics & Media: 29%
Toys, Hobby & DIY: 18%
Food & Personal Care: 10%
Furniture & Appliances: 10%

Cross-border e-commerce

Cross-border proportion of total e-commerce – 14%
Value of cross-border e-commerce – 0.3 bn $US
Online shoppers who have shopped cross-border – 50%

B2C e-commerce growth 20->21

Slovakia 14.0%

E-commerce % of total retail

Slovakia 12%
Western & Central Europe 17%
World 20%

E-commerce completed on a mobile device

Slovakia 40%
Western & Central Europe 44%
World 53%

The Credit Card Split

Visa
Mastercard

[{"label":"Visa","value":"59"},{"label":"Mastercard","value":"41"}]

E-commerce market size 2.2 bn $US
E-commerce spending per capita 395 $US
E-commerce spending as % of GDP 2.0%

_{The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.}

Slovakia

Local Payment Methods

BitPay

Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet

Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysafecard

Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paysafecash

Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayU

Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance High SEPA Direct Debit

Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly