Transactions using KB payment cards up by 7% to a new record of CZK 90 billion in 1H 2015

Press release

Prague, 19 August 2015 – In the first half of this year, Komerční banka experienced a dynamic growth in transactions executed using its cards. The year-on-year increase was by 7% to a record CZK 90 billion. The largest part, more than CZK 57 billion, was made up of ATM withdrawals.

  • The volume of transactions executed using Komerční banka’s cards grew by 7% yoy in 1H 2015.
  • The volume of ATM withdrawals and payments at merchants totalled a record CZK 90 billion for the first six months.
  • Komerční banka cardholders’ average ATM withdrawal increased to CZK 4,570 yoy.
  • On the other hand, average payments at merchants continue to decline, currently to CZK 806.

 

In the first half of this year, Komerční banka experienced a dynamic growth in transactions executed using its cards. The year-on-year increase was by 7% to a record CZK 90 billion. The largest part, more than CZK 57 billion, was made up of ATM withdrawals. The continued opening of scissors between the average ATM withdrawal and the average payment at merchants is quite visible. While in the former case the year-on-year increase was by 2% to CZK 4,570, in the latter case the decline was by 9% to CZK 806. On the other hand, in terms of the number of transactions executed using Komerční banka’s cards in the Czech Republic the transactions at merchants significantly outnumbered ATM withdrawals (25.7% on ATMs, 71.6% at merchants and 2.7% in e-shops).

“I can see several key factors behind the greater dynamics of transactions executed using Komerční banka’s payment cards. First of all, the Czech economy is recovering and household consumption is growing, but we also see new technologies spreading such as contactless payment cards. Last, but not least, new types of credit cards, which return a certain percentage of every payment to the client’s account, such as the Business World Card, also play a role in this,” said Jana Švábenská, Executive Director for Transaction and Payment Services at KB.

A look at the share of international transactions executed using Komerční banka’s cards in the first half of the year is also interesting. For example, withdrawals from ATMs outside the Czech Republic accounted only for 2% of the total volume of transactions; the situation was very different with merchants. In their case, the share was more than 11%. Komerční banka’s clients prefer direct card payments to cash withdrawals when they are outside the Czech Republic.

Komerční banka has currently 1.6 million payment cards in circulation. In the preceding month, the share of contactless cards exceeded 50% for the first time. In the first half of this year, CZK 38,000 was withdrawn from one card on average, and payments at merchants amounted to CZK 19,000.