Alternative Payment Solution: Blik
Blik is a Polish mobile payment solution launched by Polski Standard Płatności (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, 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 peer-to-peer (P2P) fund transfers. P2P transfers can be made through the mobile banking app by selecting the recipient from the user’s mobile address book. The solution is now used by 5.2 million customers of the participating banks. Online transactions accounted for 62% of total Blik transactions in Q3 2017, with ATM withdrawals the second most popular feature.
Blik is accepted at over 16,000 ATMs, 217,000 POS terminals, and 30,000 online stores 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, as of April 2017, for postal services.
The report provides information and insights into alternative payment solution Blik, including -
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