What is BLIK?
Blik is the most popular online payment method in Poland. Launched in 2015, it’s a versatile mobile payment service and a collaborative effort among payment acquirers, banks, and merchants. The supported banks of BLIK as listed in BLIK official website.
This payment solution can be used by smartphone users with a mobile banking app from the participating banks. BLIK is known for its user-friendly and secure usage. Consumers simply need to enter their BLIK code for authentication and authorise transactions via their banking app.
How does BLIK work from a customer’s perspective?
BLIK payments are convenient and safe – all consumers need is a smartphone with their bank’s mobile app. Once a customer reaches a merchant’s online checkout, they need to choose BLIK as their preferred payment method. Next, they need to open their banking app as long as they’re registered with one of the participating banks.
Within the banking app, they should find an option to generate a one-off six-digit code for a BLIK payment and then enter this code on the checkout page. It should be noted that this code remains valid for two minutes. The customer then clicks on ‘Pay’ and confirms the payment in their mobile banking app. Once the merchant receives the payment confirmation, they can fulfil the order.
What verticals does BLIK cover?
BLIK is a payment type that can accommodate a broad spectrum of sectors, such as retail, travel, and digital goods to name a few. It's worth mentioning that BLIK is also available for industries such as forex and gaming so long as they're compliant with certain local and/ or regional EU licensing requirements.
How big is BLIK’s penetration in the market?
When it comes to digital payments in Poland, BLIK registered a remarkable 13.5 million active users at the end of Q1 2023. Statista research suggests that BLIK was the top preferred digital payment method in Poland in 2022, with 70% of respondents selecting it as payment method for their online shopping.
In the first quarter of 2023, there were also a staggering 370 million BLIK transactions – a number that escalated to a remarkable 400 million in the second quarter.
Benefits of using BLIK
There are several benefits of using BLIK, some of which include the following for merchants and consumers alike:
For consumers
- Enhanced security – BLIK offers customers a time-sensitive unique six-digit code. This suggests that customers won’t need to share their sensitive payment information, thereby safeguarding sensitive payment information such as PINs. Additionally, consumers can confirm each payment within their safe banking environment, which adds an extra layer of protection.
- Speed in payments – A mobile device is all customers need to complete purchases efficiently via their banking app, making the checkout process a breeze.
- Simplicity and ease – BLIK streamlines payments, as customers don’t have to use additional app downloads. If BLIK is supported by their bank, they’re all set to tap into the convenience of BLIK’s seamless transaction processing.
- Trusted integration – BLIK integrates with banks, providing a familiar and trustworthy payment type.
For merchants
- Higher sales volumes – When customers find a payment type that meets their preferences, they’re more likely to keep buying from a merchant. This evident boost in conversion rates can help increase sales and revenue.
- Swift transaction processing – BLIK’s fast transaction process can help reduce checkout time. With fewer clicks and shorter wait times, customers are less likely to abandon their shopping carts, which can ensure that more transactions are successfully completed.
- Lower payment costs – Transaction fees attached to BLIK payments can often be lower when compared to traditional methods such as credit cards. This cost-effective payment type adds up over time, resulting in substantial savings in processing costs a business may face.
- Improved customer experience – BLIK’s ease of use and reliability can improve the shopping journey, leaving customers satisfied and more likely to return. Over time, this can nurture customer loyalty and sustained relationships while encouraging repeat custom.
Accepting BLIK payments with emerchantpay
When it comes to Poland, banks transfers are a necessity, and BLIK is right in the mix. This makes it one of the most pivotal payment types that any business eyeing the emerging opportunities in Europe should adopt.
Partnering with a dedicated payment service provider like emerchantpay opens doors to optimising your payment strategy according to the unique payment preferences in this region. Our local team of experts is at your service, offering strategic guidance and market-specific insights tailored to your business needs and target audience. Armed with these invaluable insights, you can make informed decisions that will not only improve payment acceptance but also boost your profitability. It’s the smart move to navigate Europe’s diverse and dynamic eCommerce landscape successfully.
Want to integrate BLIK into your payment strategy and accelerate your sales and revenue? Speak to our team of payment specialists today and find out how.