PANDEMIC TRIGGERS DIGITAL PAYMENT REVOLUTION IN POLAND

The COVID-19 pandemic has brought about unprecedented changes to the way we live and do business. As people opt for remote channels over direct contact, the banking sector is likely to feel the impact.

Payment Landscape Shift

Despite having one of the lowest numbers of cards issued per capita in Europe, Poland has seen a positive trend in active debit card usage. According to data from PRnews, there are over 28 million active debit cards on the market, with credit cards remaining less popular but steady at around 5.8 million.

• Card payments account for 25% of transaction value.
• Cash transactions make up 51%.
• The share of cards in total transaction value has increased by 10 percentage points over the past five years, largely at the expense of cash.

Contactless Payments on the Rise

Debit card transactions have seen a significant increase, with 1.6 billion transactions made in Q3 2019 worth PLN 208 billion. A staggering 89% of these transactions were contactless, driven by Poles’ preference for touchless payments.

Non-Card Payment Schemes on the Rise

Poland has seen the emergence of non-card payment schemes, managed by players such as Polski Standard Płatności (BLIK), SkyCash Poland SA, and Bank Polska Kasa Opieki SA (PeoPay). These schemes provide alternative payment options for customers.

Payment Institutions on the Rise

The number of licensed payment institutions in Poland has declined slightly, from 40 to 39, but the sector remains dynamic. In Q3 2019, payment institutions executed 484.7 million transactions worth PLN 44.1 billion.

As the pandemic continues to reshape the way we live and work, it’s clear that digital payments will play a crucial role in Poland’s financial landscape. With contactless payments on the rise and non-card schemes emerging, it will be interesting to see how this trend continues to evolve in the coming months.