Czech Republic: Plastic is the way to go

Along with many other countries in the world Czech Republic is turning to plastic as well. According to the Bank Card Association the amount of payment cards issued by various banks in the country went up by almost 760,000 to 8.62 million during 2007. The number of credit cards rose by 327,000 to 1.2 million during the same period.

One of the most popular types of plastic cards in Czech Republic appears to be payment chip cards. 2.3 million new cards were issued to Czech customers in 2007 bringing the total to 5.8 million. The significant rise in the plastic cards usage has a relevant impact on the ATM's popularity. The amount of ATM withdrawals totaled at 144 million in 2007 signifying a 12% rise in the total cash withdrawn.

Debit cards are still more common among Czechs. Nevertheless, the country has experienced a booming popularity of credit cards which have taken over the markets of Western Europe and the USA. Among the popular ones are MasterCard, Visa, American Express and Diners Club.