stanchion event warsaw

At Stanchion’s recent Payments Event in Warsaw, three things stood out.

  1. Digital Adoption: Poland is digitally an advanced European payments market. 76% of consumers already use the mobile phone for contactless payments (only Czech Republic at 80% is higher). Visible in the retail infrastructure. We spent a week in market and not once drew local currency or used cash. Even micro merchants used small contactless payment devices to take payment.
  2. Open-Banking sky rocketing: Card Payments make up less than 20% of payment transactions. The fastest growing payment acceptance method is a real-time open-banking local scheme called Blik, one of the fastest out of the gate open banking launches globally. Already >40% of all electronic transactions now run on Blik which is still growing fast & is ubiquitous in its acceptance both in retail & online despite being only 4 years old. Blik has tended to replace the Pay by Link bank payment method more than it has card usage.
  3. High Competition & Consolidation: Poland registers Europe’s highest economic growth. 20% of the population already access their bank from a mobile device, of which, 60% do so using only their mobile phone. This has led to many incumbents, both banks and payment processors to consolidate.

Outside the retail environment, eCommerce growth is booming with double-digit growth, >150,000 active eCommerce sites exist. 50% of Poles actively buy online.

Poland is innovative, vibrant with beautiful cities and lovely people. We thank our existing customers and look forward to working with new customers as we continue to invest effort to help companies deliver internal payment success by advising them on best solutions to help grow revenue, improve customer lifetime value and be more efficient with their payment compliance & security.

Some of our clients