Latest news with #BLIK
Reuters
5 days ago
- Business
- Reuters
Poland's BLIK payment system plans to expand into CEE and Austria, PKO BP CEO says
SOPOT, Poland, June 4 (Reuters) - Polish mobile payment system BLIK plans to expand into Central and Eastern Europe (CEE), including Austria, Poland's biggest lender PKO BP ( opens new tab CEO Szymon Midera said on Wednesday. The expansion will involve cooperating with leading regional banks in the area to replicate BLIK's domestic success, he told the annual European Financial Congress. "Only in this way can we enable the further development of BLIK abroad and ensure, within a few years, a doubling of the volume that BLIK has generated in the Polish market," Midera said. BLIK is Poland's most popular mobile payment system with over 16 million users and over 2.4 billion transactions in Poland as of 2024. It is operated by Polski Standard Platnosci (PSP) and jointly owned by several major Polish banks, including PKO BP.
Finextra
5 days ago
- Business
- Finextra
Pair Finance brings digital first debt collection to Poland and opens office in Warsaw
Most people have a negative association with debt collection. PAIR Finance is out to change that. 0 The technology company is using artificial intelligence to do so and is already successfully leading the industry in nine European countries, with customers such as online fashion retailer Zalando. Today, PAIR Finance is announcing its market entry in Central and Eastern Europe with the launch in Poland, marking its tenth market. As part of this step, it is strengthening its management team with Michał Gębała. As Managing Director, he will drive the growth of PAIR Finance in Poland from the Warsaw office together with his team. The fintech uses reinforcement learning, supervised learning and GenAI to improve the quality of service in debt collection for consumers and to maximise the recovery rate for business customers. PAIR Finance integrates the latest findings from behavioural economics and psychology. The key to success: individually optimised solutions. For example, the AI model can suggest sending a consumer a message in a cooperative tone on Tuesday noon and offering the payment options BLIK and Apple Pay. Michał Gębała has been appointed as managing director of PAIR Finance Poland. He has almost two decades of management experience in the financial services industry. Among other roles, Michał Gębała has been Country Head Poland at OMNIO, MyBucks and MiniCredit. His most recent role was Head of Digital Collections at Austrian debt collection company AxFina Holding SA. 'We are delighted to have won an experienced finance expert like Michał Gębała for PAIR Finance', says Stephan Stricker, CEO and founder of the PAIR Finance Group. 'He will be contributing his extensive expertise in Poland to our organisation and has an excellent network. His track record matches our vision of redefining debt collection through bold innovation. With Michał, PAIR Finance is perfectly placed for expansion on the Polish market.' 'I am excited to be building the Polish market for the most dynamic debt collection tech company in Europe', says Michał Gębała, Managing Director PAIR Finance Poland. 'Having seen what the PAIR Finance team has developed and achieved, I am sure that we are ideally positioned to provide Polish companies with a service that is totally new to the market and will lead our industry with our innovative and consumer-centric approach.' PAIR Finance is attracting strong interest in the European market and, thanks to its outstanding service, has more than 500 business customers, including well-known digital players from sectors such as e-commerce, PSP, banking, digital goods, insurance, TelCo, mobility or energy. A holistic approach helps consumers to make outstanding payments in a self-determined way and avoid legal proceedings. In Poland, the fintech offers consumers popular local payment methods. Poland is one of the fastest growing economies in Europe. The GDP is expected to rise by 3.5% in 2025. The country currently has a lower debt ratio than the EU average. Household debt in Poland was 23.4% of GDP in the second quarter of 2024, well below the highs of 2015.
Yahoo
28-05-2025
- Business
- Yahoo
Alchemy Pay integrates PayID to support crypto payments
Alchemy Pay has incorporated PayID into its payment network, following its registration as a Digital Currency Exchange Provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC). This move enables Alchemy Pay to offer compliant fiat-to-crypto exchange services within Australia. PayID's integration into Alchemy Pay's payment system aims to streamline the conversion of Australian dollars (AUD) into cryptocurrencies, thereby facilitating the onboarding process for Australian users. PayID, a real-time interbank payment service, facilitates domestic transactions in Australia. Expanding beyond Australian borders, Alchemy Pay has also integrated a variety of regional payment methods to cater to the needs of its international users. In Europe, the company supports transaction options such as BLIK, Bancontact, Skrill, SEPA Instant, and Faster Payments, serving users in the European Union and the United Kingdom. In Southeast Asia, Alchemy Pay's partnerships with payment platforms like Dana, OVO, and QRIS in Indonesia; Maya, GrabPay, and GCash in the Philippines; Thai QR in Thailand; and Touch'n Go in Malaysia. Last month, Alchemy Pay obtained a money transmitter licence from the Arizona Department of Insurance and Financial Institutions in the US. Set up in 2017, Singapore based Alchemy Pay is a payment gateway that connects crypto with traditional fiat currencies for businesses, developers, and end users. The company offers On & Off-Ramp, Web3 Digital Bank and NFT Checkout, Alchemy Pay supports payments in 173 countries. "Alchemy Pay integrates PayID to support crypto payments " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
04-04-2025
- Business
- Yahoo
The digital Euro & Co.: Does Europe really need a new payment system?
Europe's payment landscape is undergoing a transformation. Digital wallets, open banking, real-time transfers – and potentially, a digital euro – are emerging and being pushed into the market. Yet, despite these innovations, one question remains: Do consumers actually want new payment methods, or are their benefits ultimately limited? Europe's payment ecosystem is highly fragmented. While many Germans still prefer cash, iDEAL dominates in the Netherlands, BLIK in Poland, and Bizum has become the go-to instant payment method in Spain. Meanwhile, an increasing number of mobile wallets and open banking solutions are competing for consumer attention, gradually pushing cash and traditional cards into the background. New initiatives, such as the digital euro and Wero, aim to bring more uniformity. Their goal is to create a European payment system that operates independently of global payment giants like Visa, Mastercard, and US tech corporations. The European Central Bank sees the digital euro as a path to greater financial sovereignty and efficiency, providing a secure, real-time European payment solution. These initiatives promise progress. But as policymakers and businesses focus on implementation, the key question remains: Are these solutions truly what consumers want? If there's one thing we've learned, it's that payment habits can evolve often faster than expected. The Covid-19 pandemic was a clear example. Practically overnight, concerns about hygiene made cash payments in Germany seem outdated, and contactless payments became the norm. Today in Germany, even small transactions in bakeries or kiosks can be made seamlessly via card or smartphone – something that would have been unthinkable just a few years ago. When the right incentives are in place, consumers are willing to adapt, even in areas as deeply rooted as payment behaviour. Across Europe, a clear trend is emerging: less cash, fewer paper transactions, and a growing shift toward digital payments. From smartwatches to digital wallets and cashier-less "Buy & Go" supermarkets, payments are becoming seamlessly woven into everyday life. One trend is clear: the younger the consumer, the less friction they're willing to tolerate. Flexibility and choice of payment options are generally welcomed. However, not every new payment method succeeds. The struggles of Samsung Pay, Giropay, and Kwitt raise an important question: Why do some solutions thrive while others fade into obscurity? And what does this mean for upcoming innovations like the digital euro or Wero? In my experience, consumers don't like to experiment when it comes to their money—they want solutions that are simple, secure, and reliable. Cash, for example, requires no technology, works everywhere, and is widely trusted. However, it can be inconvenient for large transactions or unexpected expenses, which is why card payments continue to gain traction. Counting coins gives more friction than tapping a card or a phone. Convenience is key. People don't want to juggle multiple payment apps for different services or countries. They want a single, seamless digital wallet that works everywhere. That's why solutions like Apple Pay are gaining popularity. A new payment method must offer clear advantages over existing ones to gain adoption. While policymakers may focus on the bigger picture, consumers care about one simple question: How does this benefit me? If a new payment method doesn't offer a tangible improvement, people won't change their habits. And habits are very difficult to break. For a new payment method to succeed, it needs to be more than just another way to pay—it must solve a real problem. Consider three success stories: PayPal simplified money transfers between friends without requiring an IBAN. Klarna made online shopping easy with its flexible "buy now, pay later" model, as you only need your address to pay, plus it solved for buyer protection like no other method. Simply said, nothing protects you more than if you haven't paid for it yet. Apple Pay eliminated the need for physical cards but moreover didn't require you to download apps, offering a fast and secure way to pay via smartphones and wearables. Each of these innovations addressed a genuine consumer need, making them indispensable for both users and merchants. By contrast, Giropay/Paydirekt struggled because it failed to offer a compelling advantage over existing options – so consumers simply ignored it. They focused on merchant acceptance instead of consumer acceptance. Other countries have seen similar patterns. In Sweden, Swish took market share by storm. In Switzerland, it's Twint. In many cases, banks have played a key role in developing and promoting these systems. But ultimately, their success came down to one thing: they provided a better alternative to what already existed. Payment solutions don't fail because of poor technology or lack of infrastructure. They fail because consumers don't see a need for them. No matter how innovative a new system is, it will only succeed if it provides real value, an incremental benefit above their current habit. This is the fundamental challenge for the digital euro, Wero, and any future payment innovation. If they don't offer a clear consumer benefit, they risk being just another well-intentioned but underutilised initiative. Robert Bueninck is Chief Executive Officer of the Unzer Group "The digital Euro & Co.: Does Europe really need a new payment system?" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
19-02-2025
- Business
- Yahoo
Over 2.4 billion BLIK transactions in 2024 and 7 billion in 10 years
2024 represents another record year for BLIK. Total transactions exceeded 2.4 billion, up by 37% year-on-year. Meantime, BLIK transaction values rise by 43% y-o-y to PLN347.3bn ($87.3bn). The 2024 BLIK statistics means that in 2024 alone, BLIK users carried out more than half of all transactions made in the previous nine years combined. BLIK's dynamic growth is notable in e-commerce, which remains its key channel. In 2024, users made 1.2 billion payments in online stores, ahead by 27% y-o-y. Transaction values ruse by 37% y-o-y to PLN41.5bn. The average online payment value reached PLN148. Last year, BLIK strengthened its position in e-commerce by offering users greater flexibility in online shopping. A new service, BLIK Pay Later, was introduced in two banks, allowing users to defer payments by 30 days. This solution has been gaining popularity, with an average transaction value of PLN353 in its first year. BLIK is also expanding beyond the online space. Between January and December 2024, users completed 576.8 million transactions at point-of-sale (POS) terminals, up 58% y-o-y. Nearly half (46%) of these were contactless payments, which more than doubled in volume to 263.1 million (+101% y-o-y). The total value of contactless BLIK transactions in this period reached PLN11.7bn, with an average transaction amount of PLN45. The popularity of this service continues to grow, with 3.6 million users having activated it by the end of the year. During 2024, BLIK continued its international expansion, strengthening its presence in foreign markets. In September, customers of Tatra Banka in Slovakia gained the ability to pay with BLIK in e-commerce. Since then, the network of stores accepting BLIK payments has been growing steadily. Participating merchants include Reserved, Sinsay, eobuwie, Hebe, Muziker, and Tous. Expansion is also accelerating in Romania with BLIK Romania granted authorisation by the National Bank of Romania. This paves the way for the launch of BLIK services in the country in the near future. 'A decade on the Polish market has allowed us to build a solid foundation and gain valuable experience in the development of a comprehensive solution, which we have been successively developing. Overseas expansion is a natural step for us on this path. Launching in Slovakia and obtaining regulatory approval in Romania is not only the start of a new phase. It is also proof that our model is internationally scalable and ready for new challenges. We intend to further develop BLIK in the Central and Eastern European region, using the experience gained on the dynamic Polish market,' said Dariusz Mazurkiewicz, CEO of Polski Standard Płatności, the operator of BLIK. "Over 2.4 billion BLIK transactions in 2024 and 7 billion in 10 years" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
