Smart cell phone at own nine out of ten. The survey even shows that people have the first mobile phone with them than their payment card and their entire wallet. No wonder the popularity of paying with the help of a smartphone in the Czech Republic is growing rapidly. According to the survey, my phone has a payment card stored in 32 percent of them.

Although trends lead to virtual payment cards and to pay with the help of smartphones or watches, even physical cards are still known as the greatest security. Two-thirds of the survey respondents say they definitely need a physical card. But even those who use a mobile phone and other smart devices to pay for a plastic card want it.

As the main advantages of the card, the survey respondents mentioned that, unlike a mobile phone, it is never discharged. This card is so often used to withdraw from ATMs, although it is known to be with contactless ATMs. For some it may be a reason for a physical card so travel abroad.

Cash, then, is mainly an iron reserve. More than half of them do not withdraw cash from their wallets at all, even though they have it there. Keep it in case they run into a businesswoman who does not accept cashless payments.

Cashless salary is six percent of cases

The share of non-cash payments in the Czech Republic is constantly growing. According to current Mastercard data, pay by card in 59 percent of cases. And it could be 75 percent if the people didn’t come across businessmen who only accept cash.

The popularity of payments simply by card, mobile phone or watch has greatly exacerbated the pandemic. According to the latest Mastercard data, almost half of the people started using the first card, smartphone or watch first during the pandemic.

Physical payment cards will definitely not disappear from our wallets. The vast majority of people are in it like the security you need to pay. Nevertheless, let’s record a relatively fast-growing number of customers who prefer digital variants. Our data suggests that as soon as users start using a mobile phone or other portable device, they quickly get used to this option and use it whenever possible, said Michal arn, CEO of Mastercard for the Czech Republic and Slovakia.

The opportunity to use several different devices to pay is then created for them in case your mobile phone runs out of power. The fact that the popularity of payments with the help of wearable devices, especially mobile phones, watches or bracelets, will continue to grow, arn added.

Cellphone, bracelet, watch and ring

Thanks to tokenization technology, it is now possible to create a unique and secure digital copy of a payment card in virtually any portable device with NFC ip. Besides mobile phones, smart watches are becoming more and more popular. According to Mastercard, they have a quarter of them and ten percent of the people are actively used to pay.

Both groups of technology enthusiasts know each other. Nine out of ten people who use a smart watch to pay, a mobile phone to pay. According to the survey, twenty percent of them showed interest in payment rings. Their benefit is the fact that it does not need to be charged and can be used just like a watch at hand. Its easy to use is also a plus.