Market Size of Poland Payments Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.39 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Poland Payments Market Analysis
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.
