The Czech Republic has a revolutionary innovation in cashless payment. The Cvak payment service will allow merchants to receive payments without having to have a payment terminal. It will no longer be necessary to find cash to pay the hairdresser, the plumber or at the snack stand.
Air Bank has introduced the possibility of cashless payments at merchants who do not own a payment terminal and have so far refused to accept payment cards. The unique payment solution is called Cvak (derived from the word „to click“) and from that day on, the first 500 small merchants who signed up for the pilot operation in December 2023 can offer it to their customers.
So this year, there would be no need to repeat the stories from vacations when you have no chance to pay by card at the campsite and you have to rely on the only ATM several kilometers away, where you stand in line with other angry tourists. And even in such luxurious locations as, for example, Lipno.
The Cvak system was developed by Air Bank, which is also its owner, and three other banks will join it during the first quarter of this year: Fio banka, mBank and MONETA Money Bank.
The principle of Cvak is to enable cashless payment between the merchant and the customer directly from account to account (if the customer has an account in one of the participating banks), or by card if he has an account in another bank, without the need for a classic payment terminal.
