Why Mobile Payment Is Even More Popular Than Cards in Poland, While the Tech Market is One of the Most Developed in Europe

Poland is the largest fintech market in Central and Eastern Europe, with an estimated value of EUR 856 million, according to 2019 data. According to the fintech map of Poland, there are around 190 companies operating in this country in the fields of financial innovations, which cover all the main segments of the market. Most of them, including the most developed companies, operate in the domain of electronic payment and financial platforms, whereas the other developed fields include finance and (personal and business) finance management.

Banks remain key innovators in this segment in Poland, and, in addition to them, a considerable number of non-banking fintech companies is active in some segments of this market, such as e-payment and finance platforms. The best-known ones are Horum, Payair, Paymento, Provema, Quicko, SkyCash, Unicard, Zeto Lubin, and, certainly the most popular one, BLIK – which is synonymous with mobile banking in Poland.

BLIK – synonymous with mobile payment in Poland

The BLIK mobile payment system has transformed mobile banking in Poland, and it is more popular than payment by card. From January until March 2021, BLIK users made over 153 million transactions – nearly twice as much as in the same period in 2020. At the end of the first quarter of 2021, it was actively used by 7.6 million people (55% at an annual level).

BLIK, a solution fully designed in Poland, was launched in February 2015 thanks to an agreement between six banks. It is based on the IKO mobile banking app. In the past six years, BLIK has been made available to other institutions as well, and today 95% users of mobile banking can use it.

Since its launching, BLIK has become synonymous with mobile payment in Poland. However, such a fast development of a system built from scratch would not have been possible if it hadn’t been for the cooperation between many players in the market, both traditional ones and online ones – banks, the clearing house, payment agents and sellers.

The operator of the BLIK system is a member of the European Mobile Payment Systems Association (EMPSA).

The company Horum has launched the banking platform Horum Bank – a bank dedicated to entrepreneurs. Through this platform, it is possible to make payments, money transfers and use numerous innovative products and financial services. Their app for mobile banking and business operations contains all the information about doing business, and access to the company’s finances is possible 24/7/365.

The platform Payair was launched in 2009. They started out as the Payair app, which enabled consumers to make a purchase within a few seconds, buying directly through their mobile phones, both online and in stores. Today, Payair is the leading supplier of services of digital payment. They are Mastercard’s partners since 2015 and are currently the best-rated company on their global list of Digital Suppliers.

The company Paymento Financial SA provides professional finance services and IT solutions for the financial sector, and their services are meant for companies which operate in the markets of finance and e-commerce.

Provema is a company which operates in the sector of finance technology. Their main field of activity is the development of technologically advanced finance tools, based on artificial intelligence. They operate in Poland, Spain and Lithuania, and in 2021, they are planning an expansion in the markets of Croatia and Estonia. From the 2022, the plan is for them to expand to other EU states, Brazil and Egypt.

Quicko is a Polish fintech, which, until recently, was mostly known for its contactless payment gadgets. However, since the first quarter of 2021, the users can install the new Quicko app on their smart phones. The app can be linked to the card, but also the fitness bracelet which is sold under the Quicko brand and is equipped with mobile contactless payment. All these elements of the new Polish fintech offer are available to users of Android and iOS devices.

SkyCash is a Polish tech company that operates in the fintech industry. Since 2010, they have been developing a system of ticket payments for public transport parking and train rides. The owners of the company from the very beginning have been Polish investment funds. Today, their solutions are used by over 3.5 million users and they are an industry leader with a market share of over 80% in paying for parking through smart phones and over 50% in paying for public transport fares. They are available in 110 cities in Poland.

Since 1992, Unicard SA has been a leader in the market of solutions when it comes to access control, working hours login, personal identification system, security and integration with building automation. The company offers services of advising, maintenance of hardware and software adapted to clients’ individual demands. The company’s leading products are card systems, access control, working hours login, parking and smartcity.

Zeto Lubin is a Polish IT company with over 50 years of experience in data processing and over 2,000 implemented pieces of software. They focus on the development of software solutions which suit the demands of numerous companies and institutions, primarily when it comes to the development of human resources.

Ambasada Republike Poljske Beograd

Horum

Payair

Paymento

Provema

Quicko

SkyCash

Unicard

Zeto Lubin

BLIK

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