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The Poland payments market is expected to register a CAGR of 12.39% during the period of 2022-2027. With a growing prevalence of mobile payments, driven by banks on Apple Pay and Google Pay, and merchants incorporating payments within their retail client applications, it has recently become entirely contactless.
- Poland is a modern payments market in terms of bank and acquirer infrastructure, goods, and services. With a growing prevalence of mobile payments, driven by banks on Apple Pay and Google Pay, and merchants incorporating payments within their retail client applications, it has recently become entirely contactless.
- Moreover, in the form of BLIK, real-time payments boost growth in non-card e-commerce payments while also simplifying payments across all channels. Over the previous few years, there has been tremendous consolidation among banks and acquirers, with the top five banks/acquirers controlling 80 percent of their respective sectors.
- Poland has a low rate of e-commerce fraud. Each year, approximately 1% of online buyers in the country are victims of fraud, compared to a European average of 2%. One explanation for this is that there is a link between high card usage and e-commerce fraud in nations with high card usage. In Poland, bank transfers are widespread, and scammers are less likely to use this payment method. Card usage in Poland is still relatively low, but it is rapidly increasing; therefore, shops should expect an increase in fraud efforts.
- The COVID-19 outbreak has accelerated not just digitization across all industries but also considerable e-commerce sales growth in numerous segments, including food delivery, in 2020. Cash-on-delivery has declined dramatically, accounting for less than half of all deliveries, and most courier firms now accept payments by POS at the time of delivery.
- The COVID-19 pandemic has increased online spending as fearful consumers stay at home and use online platforms to avoid being exposed to disease vectors. This has resulted in a considerable increase in the use of credit cards online. InPost's automated parcel lockers are the most popular delivery method in Poland, and they also offer the option of paying with a credit card at the locker.
Scope of the Report
The Poland Payments Market is Segmented by Mode of Payment (Point of Sale (Card Payments, Digital Wallet, Cash), Online Sale (Card Payments, Digital Wallet)), and by End-user Industries (Retail, Entertainment, Healthcare, Hospitality).
The payments industry is separated into two categories: point-of-sale (POS) and e-commerce (e-commerce). Online purchases of both goods and services, such as purchases made on e-commerce websites and the online travel and lodging bookings, are examples of e-commerce payments. All transactions that take place at a physical point of sale are included in the market's scope when it comes to POS.
|By Mode of Payment|
|By End-user Industry|
|Other End-user Industries|
Key Market Trends
Advancements in the Polish Payments Market
- Over the previous months, new SoftPOS trial efforts have occurred, but neither has yet taken off commercially. Consumer acceptance of inputting a PIN on a merchant's screen on a non-POS device is unknown, but PIN on glass laws or waivers for numerous providers might change this situation. New fiscal regulations that allow for software-based fiscal ECR registers will adopt all-in-one payment devices (fiscal ECR, sales system, and payment on-screen) – whether from payment providers/acquirers on dedicated hardware or software providers on regular tablets and phones.
- All-in-one devices may substitute POS/ECR-dedicated hardware – card-based payments with PIN on glass or Face-to-Face (F2F) e-commerce payments without an NFC requirement – as payment volumes via mobile phones increase. This could eventually lead to PISP payments disintermediating current payment methods at merchants, thanks to an improved customer interface.
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Initiatives by the government to improve cashless payment methods
- The government-sponsored Cashless Poland Program, which covers the price of POS hardware and merchant service fees for new merchants, increased the number of POS terminals to over 1 million, with approximately 385,000 of those subsidized.
- Employee remuneration regulation was enacted as part of the government's financial inclusion goals. The government requires that salaries and wages be paid through bank transfer beginning January 1, 2019, unless an employee requests a different payment method. Employees who do not have a bank account can obtain a basic payment account that includes banking services at no cost. Debit card adoption and usage are increasing as bank accounts grow.
The payments market in Poland is moderately consolidated, as a few players currently dominate the market. Major competitors in the Poland payments market provide well-developed digital payment systems, and they use acquisitions and partnerships to reach more consumers in the region. Mastercard Inc., PayPal Holdings Inc., and American Express are some of the leading players in the payments business.
- May 2022 - PayPal Holdings, Inc. engages in developing technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products.
- May 2022 - The company has revealed that Mastercard will soon allow consumers to pay with a smile or a wave. The payments company announced it would soon roll out a new Biometric Checkout Program, which will lay out a set of standards for banks, merchants, and technology providers to adhere to when people pay using biometrics.
- May 2022 - Allegro announced a new service implemented in one of the platform's delivery methods - One Kurier. Customers using this method and paying for cash-on-delivery purchases can pay by card or smartphone using the contactless method on the courier's device used to manage shipments.
- May 2022 = PKO BP announced today that it is completing work on a deferred payment solution (the so-called BNPL - buy now, pay later). One of the essential features of the new service will be that after its introduction by PKO BP, it will become one of the payment options available in virtually all online shops in Poland.
Table of Contents
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Stakeholder Analysis
4.3 Industry Attractiveness-Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Evolution of the payments landscape in the country
4.5 Key market trends pertaining to the growth of cashless transaction in the country
4.6 Impact of COVID-19 on the payments market in the country
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Advancements in the Polish Payments Market
5.1.2 Initiatives by the Government to improve cashless payment methods
5.2 Market Challenges
5.2.1 Data security concerns
5.3 Market Opportunities
5.3.1 Move towards Cashless Society
5.3.2 New Entrants to Drive Innovation Leading to Higher Adoption
5.4 Key Regulations and Standards in the Digital Payments Industry
5.5 Analysis of major case studies and use-cases
5.6 Analysis of key demographic trends and patterns related to payments industry in Poland (Coverage to include Population, Internet Penetration, Banking Penetration/Unbanking Population, Age & Income etc.)
5.7 Analysis of the increasing emphasis on customer satisfaction and convergence of global trends in Poland
5.8 Analysis of cash displacement and rise of contactless payment modes in Poland
6. Market Segmentation
6.1 By Mode of Payment
6.1.1 Point of Sale
18.104.22.168 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
22.214.171.124 Digital Wallet (includes Mobile Wallets)
6.1.2 Online Sale
126.96.36.199 Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
188.8.131.52 Digital Wallet (includes Mobile Wallets)
184.108.40.206 Others (includes Cash on Delivery, Bank Transfer, and Buy Now, Pay Later)
6.2 By End-user Industry
6.2.5 Other End-user Industries
7. Competitive Landscape
*List Not Exhaustive
7.1 Company Profiles
7.1.2 PayPal Holdings Inc.
7.1.6 Bank Pekao
7.1.7 Santander Bank Polska
7.1.8 American Express
7.1.9 PKO Bank Polski
7.1.10 Apple Pay
8. Investment Analysis
9. Future Outlook of the Market
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Frequently Asked Questions
What is the study period of this market?
The Poland Payments Market market is studied from 2020 - 2027.
What is the growth rate of Poland Payments Market?
The Poland Payments Market is growing at a CAGR of 12.39% over the next 5 years.
Who are the key players in Poland Payments Market?
Apple Inc. (Apple Pay), American Express, Mastercard, PayU, Przelewy24 (Dotpay), Tap2Pay.me, Bank Pekao SA, Santander Bank Polska, PKO Bank Polski, PayPal Holdings Inc. are the major companies operating in Poland Payments Market.