The development and use of different payment methods in Poland offers a fascinating insight into the country’s rapid growth and modernisation. Despite its relatively new banking sector, Poland is a dynamic and innovative business hub that boasts Europe’s sixth-biggest and fastest-growing economy. Despite this, traditional banking and payment methods are still favoured by many across the country. This combination of tradition and modernity makes Poland an intriguing country for entrepreneurs looking to break into the Eastern European or Polish markets. 1. BANK TRANSFERS Bank transfers are a widely used payment method to make online purchases or pay bills in Poland. Many consumers prefer bank transfers over other payment methods as they’re seen as secure and convenient. Przelewy24, or “P24,” and Sofort are two common options for completing bank transfers. Both of these options facilitate bank transfers directly from the merchant’s website. Bank transfers can also be carried out at all the major banks in the country including Bank Polski, mBank, and Santander. Accepting bank transfers is a must for businesses in every sector in Poland to meet customer expectations. However, they’re especially necessary for businesses that work on a subscription basis or offer recurring payments. Businesses with a payment processor and an integrated payment gateway can handle customers’ recurring payment plans while keeping their payment data secure. 2. CREDIT AND DEBIT CARDS Credit and debit card use has shot up in Poland over the last few years. The volume of debit card transactions reached more than 8.9 billion in 2023, up from just 31.69 million in the year 2000. This represents a major shift towards more modern electronic payment methods. As in other European countries, debit cards are more popular than credit cards, and 90% of all cards issued in Poland are enabled for contactless payments. Open Up Your Polish Business to Cross-Border Consumers Accepting credit and debit cards for online transactions is essential both for online and in-store merchants. This is because cross-border online shopping accounts for 30% of all transactions in Poland, a figure that continues to grow. A global payment gateway will handle payments made with a wide range of payment methods and currencies to make your business a player in the international market. 3. BLIK Blik is a mobile payment system that enables users to make secure transactions in Polish zloty via their phone or tablet. It’s widely used for online shopping, bill payments, and to make peer-to-peer payments. All major banks in Poland support this local payment method. Blik is popular because of its perceived security, ease of use, and widespread use. E-commerce transactions using Blik have skyrocketed from just 0.01 billion zloty in 2015 to almost 173 billion zloty in 2024. Data suggests that the number of mobile and online payment users is on the rise. More than 22 million people (from a population of around 36 million) used online banking in 2022, and 19.3 million used mobile banking applications. 4. CASH Cash remains one of the most used payment methods in Poland. Many Poles prefer to withdraw cash thanks to its ease of use, security, and familiarity. Almost 12% of the population only used cash in 2022, with another 37.3% claiming to use cash just as much, more, or much more often than cashless alternatives. Consumers’ Payment Habits in 2022 Source: Report on Cash Circulation in Poland in 2022 (page 23 of the PDF) Offering cash is therefore a must for in-store purchases for all businesses in Poland. Interestingly, the use of cash even extends to e-commerce transactions. Cash on delivery remains a popular choice for online purchases, with 25% of shoppers preferring this method over digital payment methods in 2022. Worries about insecurity and hidden fees influence the continuing popularity of cash despite a growing trend towards digital payment methods. Percentage of Consumers Using a Particular Payment Method When Shopping Online Source: Report on Cash Circulation in Poland in 2022 (page 26 of the PDF) Another possible explanation for the popularity of cash as a payment method is the relatively high percentage of unbanked individuals in the country. A 2022 study found that around 10% of the surveyed population was unbanked, with pensioners, farmers, and unskilled workers making up the majority of those without access to a bank account. POLAND: WHERE MODERNITY AND TRADITION COLLIDE Offering a diverse range of payment methods is crucial for businesses seeking to thrive in the Polish market. By embracing Blik, bank transfers, card payments, and cash on delivery, businesses cater to the varied preferences of Polish consumers, fostering trust and increasing conversion rates. Understanding and adapting to the local payment landscape is not just a convenience, but a strategic imperative for any business aiming to establish a successful and enduring presence. Accept the most popular payment methods and prioritise secure transactions to meet customer needs in Poland.