Slovakia sees rise in cashless payments as digital preference hits 55%

Digital payment preferences in Slovakia have reached a historic high, with 55% of people now preferring card, mobile, or smartwatch payments. According to a Mastercard survey, the group actively seeking cash has decreased from 33% in 2018 to 26% today.

There is significant untapped potential for cashless transactions; if digital payment infrastructure were available at every point of sale, usage could reach 74%. Additionally, the average value of contactless transactions has dropped from 4 euros to 3 euros, with half of the population regularly using digital methods for purchases of 1 euro or less.