BLIK in Q2 2021: huge increase in the popularity of P2P instant payments
From April to June 2021, BLIK users completed nearly 176 million transactions worth PLN 24 billion. At that time, the number of BLIK’s P2P instant payments was growing the fastest - as many as 25.5 million - an increase of 187% year-on-year. At the end of the second quarter, BLIK was being actively used by nearly 8 million users, which is almost 50 percent more than a year earlier.
In the second quarter of this year users completed 176 million BLIK transactions - twice as many as in the corresponding period of 2020. The total value of transactions also doubled compared to the first three months of last year and amounted to PLN 24 billion.
The number of active BLIK users (those who make at least one transaction each month) increased to 8 million people, which is nearly half a million more than at the end of the first quarter of 2021.
Nearly 70 percent of all transactions in the second quarter of this year were online transactions, which came out to 121.5 million. Over 3.8 million of these were transactions made in global e-commerce, settled by international payment operators. The value of online transactions reached nearly PLN 14.5 billion. The average value of e-commerce transactions is PLN 120.
The second most-used BLIK function are P2P instant payments. They already account for nearly 15 percent of all transactions. In the second quarter, customers used this method of transferring money as many as 25.5 million times - an increase of 187% year-on-year. On a record day, over 450,000 BLIK transfers to the phone (P2P) were completed. The value of such transactions in the second quarter reached nearly PLN 3 billion. The average for this type of transaction is PLN 118. This method of transferring money - instantly and at any time – is available to customers of 10 banks.
We’ve known for some time now that instant payments are the future of transactions between people. This is the fastest and easiest way to transfer money to each other cashless and hassle-free. Year-on-year, the share of P2P transactions via BLIK increased by 5 percentage points, and the share of e-commerce fell below 70%. The transaction structure is becoming more and more balanced,
says Dariusz Mazurkiewicz, president of the Polish Payment Standard, operator of the BLIK mobile payment system.
The number of transactions in traditional payment terminals (POS) increased by as much as 133 percent year-on-year to 19.6 million in the second quarter of the year. Their value at that time exceeded PLN 1 billion (the average transaction value is PLN 54). It is worth adding that the data for the second quarter do not yet include BLIK contactless transactions, which are being introduced successively at this time. Transactions in POS terminals accounted for 11 percent of all BLIK transactions in the second quarter.
ATM transactions in the second quarter amounted to 9 million, while the number of deposits and withdrawals increased year-on-year by 65%. Their value reached nearly PLN 6 billion (83 percent more than in the same period last year). The average amount of a transaction at an ATM exceeds PLN 600.
In the second quarter of the year, customers completed an average of nearly 2 million transactions with BLIK each day. This is twice as much as in the same period of 2020. On the best day in the second quarter 2.5 million transactions were recorded. The average amount of a BLIK transaction is PLN 137.
BLIKOMANIA launched after record-breaking quarter
The third edition of BLIKOMANIA - the lottery of the Polish Payment Standard – was launched in early August. This year's edition of BLIKOMANIA offers over 16,000 prizes with a record total value exceeding PLN 2 million. Each transaction is a chance to win. The lottery lasts 4 months and at the end of each month participants take part in a drawing for one of the main prizes worth PLN 100,000. Anyone who registers at www.blikomania.pl and pays with BLIK in any way, can win PLN 100 every day.
About BLIK
The BLIK - an account-based mobile payment system built and funded in Poland - enables Internet payments, as well as payments at POS terminals, cash withdrawals from ATMs and mobile P2P payments to be made. More than 3/4 of the transactions made with Blik are online payments, more than 9% are P2P transactions, slightly less are F2F transactions at terminals, and almost 7% are ATM withdrawals. BLIK has a dominant share of the mobile payments market in Poland.
Polski Standard Płatności (PSP) is BLIK’s operator. PSP was established in February 2015 by six Polish banks: PKO Bank Polski S.A., Alior Bank S.A., Bank Millennium S.A., ING Bank Śląski S.A., Bank Zachodni WBK S.A. (currently Santander Bank Polska S.A.) and mBank S.A. 16 banks are currently offering BLIK to their customers.
BLIK has won many prestigious awards, including the receipt of the title of FinTech of the Year in 2019 by Cashless.pl and FinTech of the Year 2020 by Invest Cuffs, one of Europe’s largest congresses for investors.
For more information, please contact:
Marek Gieorgica
BLIK’s Press Office
Polski Standard Płatności
mg@clearcom.pl
