Alternative Payment Solution: Blik

2019-01-18
Price :
Published : Jan-2019
No. of Pages : 18

Alternative Payment Solution: Blik

Summary

Blik is a Polish mobile payment solution launched by Polski Standard P?atno?ci (PSP) in February 2015. PSP was formed in 2013 through strategic co-operation between six major Polish banks: Alior Bank, Millennium Bank, Bank Zachodni WBK (now Santander), ING Bank, mBank, and PKO Bank.

Blik is offered by Polish banks as an additional service within their mobile banking apps. It enables users to conduct payment transactions using a mobile phone, including online and in-store payments, cash deposits and withdrawals at ATMs, and P2P fund transfers. The solution is now used by 6.1 million customers of the participating banks. Online transactions accounted for 72% of total Blik transactions in Q3 2018, with ATM withdrawals the second most popular feature, followed by payments at POS terminals and P2P transfers.

Blik is accepted at over 20,000 ATMs and 300,000 POS terminals across Poland. Payments can be made using two payment options: Blik Code and Blik Cheque. Blik Code is a one-time six-digit code that is generated by logging into the mobile banking app; the code is entered at the POS terminal or online checkout page. Blik Cheque allows users to make payments using a nine-digit cheque number and a PIN. Apart from online and physical retailers, Blik can also be used for payments at fuel stations, on public transport, for government services, and for postal services.

The report provides information and insights into alternative payment solution Blik including –
– Detailed insight into its business
– Comprehensive coverage of its products and services
– Comparative assessment with key alternative payment solutions
– Information on its performance, including its revenue model
– The company’s important events and milestones.

Scope

– In February 2015, Blik was launched.
– Blik users can make instant fund transfers using mobile phone numbers at participating banks using their respective mobile banking app.
– In June 2018, partnered with Bank Pekao to offer its services as part of the bank’s mobile banking app.
– In December 2018, PSP, the operator of Blik, partnered with Mastercard, enabling Blik users to use proximity technology at all POS terminals globally that accept contactless Mastercard payments. In addition, Mastercard and PSP will facilitate payments on foreign e-commerce websites.

Reasons to buy

– Gain insights into Blik’s business operations and key events.
– Gain insights into its product portfolio and revenue model.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Filed in: Banking & Finance
Publisher : GlobalData
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