Slovakia: the most progressive payments market in Europe?
Slovakians already use their Visa cards to make more than one million contactless transactions every month – a really significant number in a country of six million people. This demonstrates not only that Slovakian banks are some of the most forward-thinking in Europe, but also that consumers here truly understand how new payment methods can benefit them.
It’s these market dynamics that helped Slovakia become the first country to witness a full-scale commercial launch of SIM-based mobile contactless payments, made possible by a partnership between Tatra banka, one of the most progressive banks in Europe, and O2, widely-recognised as a mobile network operator that is fiercely committed to offering its customers innovative products and services.
Customers of Tatra banka who have an NFC-enabled smartphone can simply walk into a local O2 branch, have their SIM card is replaced, and walk out again able to make mobile contactless payments at any of the 12,000 contactless terminals in retailers across Slovakia – it’s that straightforward.
It’s for these reasons and more that Visa is holding Slovakia up as a shining light to inspire other markets around Europe.