Non-cash transactions increase in Czechia

Cristian Hatis 2 Min Read

The increase in non-cash transactions in Czechia even after the coronavirus lockdown is visible in virtually all fields, latest O2 eKasa data show.

For glass, painting and painting works, the proportion of non-cash payments increased from 12% to 33%, for activities for personal and physical well-being (e.g. fitness centers, massages, therapies) from 12% to 25%, for roofing works from 3% to 15%.

In the hospitality industry from 9% to 20%, for hairdressing, cosmetics and similar activities from 8% to 17%, and for electrical installations from 3% to 12%.

Overall, three quarters of businesses resumed their economic activity in the 11 weeks since the crisis began, with the value of all transactions falling by 18% compared to the pre-crisis period.

The volume of all transactions therefore reaches 82 % of the original level. In practice, this means that customers buy less often, but they give more money for each purchase than before quarantine.

As a result, the value of cash register sales has increased by 10% for open businesses.

Almost half of restaurants and hotels are still closed

The accommodation, catering and hospitality sectors experienced the deepest decline.

O2 eKasa data show that more than half of enterprises (55%) has already started to work in this segment.

Wholesale, retail or manufacturing are already at 90% of output compared to the pre-crisis period. The number of transactions via EET decreased by only 23 % despite the abolition of the fiscal obligation.

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