More than a half of Czech children, some 54 percent, have their own bank account. A further 41 percent say that they want to have it, while just 5 percent do not, according to a survey conducted by Bank Creditas. More than two fifths see their mobile phones as the main access point for using their bank account.
The Czech Republic is undergoing a revolution in the way passengers pay for public transportation services, writes news site idnes.cz. Around 2,000 bus and tram services now enable ticket payments to be made using a contactless card. And that number is set to continue to grow, says Petr Zlámalík, of Mastercard Advisors, the professional services arm of card payments processing giant Mastercard.
According to the financial daily Hospodářské noviny, Czech consumers last year spent one-fifth more using payment cards. The number of venues where it is possible to shop using a credit or debit card grew by 18 percent from 2014 to almost 108,000. One factor in the increase is contactless payment, speeding up small transactions. Now, seven out of ten cards offer the service.
In Business News this week: average monthly salary reached 26,278 crowns in second quarter of 2015; EC approves government’s plan to extend support for biofuel; cyber-security firm CyberGym to build commercial Training Arena in Czech Republic; Česká spořitelna to launch pre-paid debit card for children; Czech firm opens household utensils manufacturing plant in Vietnam.
In Business News This Week: Czech economy grew by 4.4 percent in the second quarter of 2015; number of payment cards issued in country reaches 11.135 million; grain harvest down by 4.3 percent year-on-year; Czechs prefer Google Chrome over Internet Explorer; sale of illegal cigarettes in Czech Republic among lowest in EU.
As of Saturday, October 1st, drivers around the country will be able to use pay cards when paying fines for traffic violations. The police introduced electronic payments in a limited measure last year and have decided to extend the network of mobile electronic terminals to all districts. The move is expected to both reduce corruption and facilitate payments for drivers.