The Cards and Payments Industry in Poland: Emerging trends and opportunities to 2020

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Date: 06-Jul-2017
No. of pages: 62
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The Cards and Payments Industry in Poland: Emerging trends and opportunities to 2020

Summary

Poland is one of the most advanced and innovative markets in Europe, offering consumers broad access to the latest technology in electronic payments. Nevertheless cash is still very popular, accounting for 64.1% of the total payment transaction volume in 2016. Payment card use is rising as consumers enthusiastically embrace new technologies, moving from cash to payment cards to contactless. Although cash is very much the dominant means of payment, there was huge growth in the volume of debit card transactions during the review period (2012-16). This more than doubled between 2012 and 2016, as consumers' preferred debt-free payments and avoided unnecessary expenditure.

Poland made substantial progress in terms of financial inclusion, with the percentage of the Polish population aged 15 or above with a bank account increasing from 72.9% in 2012 to 81.7% in 2016. The government has also encouraged businesses to open bank accounts for employees, and salaries are now paid into bank accounts, resulting in an increase in the number of debit cards in circulation. It is also focusing on using electronic modes of payment to distribute pension and other retirement benefits. In Poland, nearly 65% of senior citizens receive their pensions and other retirement benefits through a bank account.

The credit card market declined during the review period in terms of the number of cards in circulation, as Polish consumers prefer to maintain a cautious stance towards debt. The growth was halted at the end of 2010, as non-performing loans rose. The T-Recommendation issued by the Financial Supervisory Commission in Poland took effect in August 2010, restricting consumer access to bank loans and consumer credit; consequently, consumers faced more stringent scrutiny when applying for a credit card. The change in regulation imposed additional requirements on banks to check the creditworthiness of new customers. Issuers also deactivated inactive cards, resulting in a decline in credit card circulation.

The fast-growing e-commerce market is in turn driving growth in Poland's payment cards market. E-commerce registered a CAGR of 20.0% during 2012-16, growing from $4.1bn (PLN17.2bn) in 2012 to $8.5bn (PLN35.8bn) in 2016. Conventional instruments - including payment cards - remain the preferred mode of payments for e-commerce transactions, accounting for 60.3% of the total e-commerce transaction value in 2016.

The report "The Cards and Payments Industry in Poland: Emerging trends and opportunities to 2020" provides top-level market analysis, information and insights into the Polish cards and payments industry, including -

- Current and forecast values for each market in the Polish cards and payments industry, including debit, credit and charge cards.

- Detailed insights into payment instruments including credit transfers, cash, cheques, direct debit, and payment cards. It also, includes an overview of the country's key alternative payment instruments.

- E-commerce market analysis and payment methods.

- Analysis of various market drivers and regulations governing the Polish cards and payments industry.

- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

Companies mentioned in this report: Alior Bank, Millennium Bank, Bank Zachodni WBK, mBank, ING Bank Slaski, PKO Bank Polski, Bank Pekao, Crédit Agricole, Citi Handlowy, EVO, FirstData, Elavon, Visa, Mastercard, American Express.

Scope

- Poland was one of Europe's early adopters of contactless technology, and consumers are among the highest users of contactless payments. Contactless payments are gaining prominence in Poland with all major banks including PKO Bank Polski, mBank, Bank Zachodni WBK, and Bank Pekao now offering contactless cards. For instance, Deutsche Bank Poland introduced Mastercard Standard Debit Card, a contactless card in January 2016. The number of contactless payment cards increased significantly from 15.1 million in 2012 to 28.3 million in 2016, and is anticipated to reach 33.6 million by 2020. With the growing number of retailers in Poland accepting contactless payments, plans are in place for all POS terminals to support the technology by the end of 2017. According to the European Payments Council (EPC), at the end of Q1 2016, 86.4% of POS terminals in Poland accepted contactless payments. Contactless technology is also being extended for cash withdrawals.

- With Polish consumers being enthusiastic adopters of new technologies, payment solution providers have launched new solutions in the market. The latest is the launch of Android Pay by Google in November 2016, supported by Alior Bank, Bank Zachodni WBK, and T-Mobile Banking Services. However, the most significant development was the launch of Blik, a mobile payments service, in February 2015. Blik was formed by the Polish Payment Standard, a company set up by six Polish banks: Alior Bank, Millennium Bank, Bank Zachodni WBK, mBank, ING Bank Slaski, and PKO Bank Polski. Blik enables consumers to pay with their mobile devices instore and online and also enables peer-to-peer (P2P) transfers.

- To offer a convenient and faster checkout option for online shoppers, in February 2016 Visa launched Visa Checkout in Poland. The solution stores users' payment and shipping details and provides faster checkout on partner merchants' websites or apps. Earlier in August 2015 PayPal expanded its One Touch instant checkout service to Poland, which can be activated from the PayPal website and used to skip the login process at eligible websites to accelerate the payment process.

Reasons to buy

- Make strategic business decisions, using top-level historic and forecast market data, related to the Polish cards and payments industry and each market within it.

- Understand the key market trends and growth opportunities in the Polish cards and payments industry.

- Assess the competitive dynamics in the Polish cards and payments industry.

- Gain insights into marketing strategies used for various card types in Poland.

- Gain insights into key regulations governing the Polish cards and payments industry.

The Cards and Payments Industry in Poland: Emerging trends and opportunities to 2020

Table of Contents
1. Executive Summary 2
1.1. Market overview 2
1.2. Key facts 3
1.3. Top five industry events 4
2. Payment Instruments 10
2.1. Current payment environment 10
3. E-Commerce And Alternative Payments 12
3.1. E-commerce market analysis 12
3.2. Alternative payment solutions 14
3.2.1. PayPal 14
3.2.2. Android Pay 14
3.2.3. Blik 14
3.2.4. Masterpass 15
3.2.5. Visa Checkout 15
3.2.6. PayU 15
3.2.7. Fortumo 15
4. Regulations In The Cards And Payments Industry 16
4.1. Regulatory framework 16
4.1.1. SEPA card standardization 16
4.1.2. Implementation of the Payment Services Directive (PSD) 17
4.1.3. Payment Services Directive 2 (PSD2) 18
4.1.4. Interchange fee regulation 19
4.2. Anti-money laundering 20
4.3. Foreign direct investment regulations 20
5. Analysis Of Cards And Payments Industry Drivers 21
6. Payment Cards 24
7. Debit Cards 26
7.1. Debit card market analysis 26
7.2. Competition in the debit card market 28
7.3. Debit card comparison 30
8. Pay-Later Cards 31
8.1. Pay-later card market analysis 31
8.2. Competition in the pay-later card market 33
8.3. Pay-later card comparison 35
9. Prepaid Cards 37
10. Merchant Acquiring 39
11. Appendix 42
11.1. Abbreviations and acronyms 42
11.2. Supplementary data 43
11.3. Definitions 56
11.4. Methodology 58
11.5. Bibliography 60
11.6. Further reading 60

List of Tables
Table 1: Poland: key facts, 2016 3
Table 2: Poland: regional benchmarking of payment cards, 2016 3
Table 3: Poland: mode of entry of foreign banks 20
Table 4: Poland: debit card comparison and key features, 2017 30
Table 5: Poland: gold credit cards comparison and key features, 2017 35
Table 6: Poland: premium credit cards comparison and key features, 2017 35
Table 7: Poland: charge cards comparison and key features, 2017 36
Table 8: Poland: payment instrument transaction values (PLNbn), 2012-16e 43
Table 9: Poland: payment instrument transaction values ($bn), 2012-16e 43
Table 10: Poland: payment instrument transaction volumes (millions), 2012-16e 43
Table 11: Poland: payment cards in circulation by type (millions), 2012-20f 43
Table 12: Poland: volume of payment card transactions (millions), 2012-20f 44
Table 13: Poland: value of payment card transactions (PLNbn), 2012-20f 44
Table 14: Poland: value of payment card transactions ($bn), 2012-20f 44
Table 15: Poland: debit cards in circulation (millions), 2012-20f 44
Table 16: Poland: debit card transaction volumes, 2012-20f 45
Table 17: Poland: debit card transaction values (PLN), 2012-20f 45
Table 18: Poland: debit card transaction values ($), 2012-20f 45
Table 19: Poland: debit cards in circulation by scheme (millions), 2012-16e 46
Table 20: Poland: debit card transaction values by scheme (PLNbn), 2012-16e 46
Table 21: Poland: debit card transaction values by scheme ($bn), 2012-16e 46
Table 22: Poland: debit card transaction values by issuer (PLNbn), 2012-16e 46
Table 23: Poland: debit card transaction values by issuer ($bn), 2012-16e 47
Table 24: Poland: pay-later cards in circulation (millions), 2012-20f 47
Table 25: Poland: pay-later card transaction volumes, 2012-20f 47
Table 26: Poland: pay-later card transaction values (PLN), 2012-20f 48
Table 27: Poland: pay-later card transaction values ($), 2012-20f 48
Table 28: Poland: pay-later cards in circulation by scheme (000s), 2012-16e 48
Table 29: Poland: pay-later card transaction values by scheme (PLNbn), 2012-16e 48
Table 30: Poland: pay-later card transaction values by scheme ($bn), 2012-16e 49
Table 31: Poland: pay-later card transaction values by issuer (PLNbn), 2012-16e 49
Table 32: Poland: pay-later card transaction values by issuer ($bn), 2012-16e 49
Table 33: Poland: credit cards in circulation (millions), 2012-20f 50
Table 34: Poland: credit card transaction volumes, 2012-20f 50
Table 35: Poland: credit card transaction values (PLN), 2012-20f 50
Table 36: Poland: credit card transaction values ($), 2012-20f 50
Table 37: Poland: credit cards in circulation by scheme (000s), 2012-16e 51
Table 38: Poland: credit card transaction values by scheme (PLNbn), 2012-16e 51
Table 39: Poland: credit card transaction values by scheme ($bn), 2012-16e 51
Table 40: Poland: charge cards in circulation (millions), 2012-20f 51
Table 41: Poland: charge card transaction volumes, 2012-20f 51
Table 42: Poland: charge card transaction values (PLN), 2012-20f 52
Table 43: Poland: charge card transaction values ($), 2012-20f 52
Table 44: Poland: charge cards in circulation by scheme (000s), 2012-16e 52
Table 45: Poland: charge card transaction values by scheme (PLNbn), 2012-16e 52
Table 46: Poland: charge card transaction values by scheme ($m), 2012-16e 53
Table 47: Poland: prepaid cards in circulation (millions), 2012-20f 53
Table 48: Poland: prepaid card transaction values (PLNbn), 2012-20f 53
Table 49: Poland: prepaid card transaction values ($m), 2012-20f 53
Table 50: Poland: merchant acquiring transaction volumes (millions), 2012-20f 53
Table 51: Poland: merchant acquiring transaction values (PLNbn), 2012-20f 53
Table 52: Poland: merchant acquiring transaction values ($bn), 2012-20f 54
Table 53: Poland: acquirers' transaction volumes (millions), 2012-16e 54
Table 54: Poland: acquirers' transaction values (PLNm), 2012-16e 54
Table 55: Poland: acquirers' transaction values ($m), 2012-16e 54
Table 56: Poland: retail outlets and card-accepting merchants (000s), 2012-20f 55
Table 57: Poland: debit card average interchange fees (%), 2012-16e 55
Table 58: Poland: debit card merchant service charge and interchange fee (%), 2012-20f 55
Table 59: Poland: pay-later card average interchange fees (%), 2012-16e 55
Table 60: Poland: pay-later card merchant service charge and interchange fee (%), 2012-20f 55
Table 61: Key definitions 56

List of Figures
Figure 1: Poland: payment instrument shares by transaction value (%), 2012 vs 2016 10
Figure 2: Poland: payment instrument shares by transaction volume (%), 2012 vs 2016 11
Figure 3: Poland: e-commerce value 12
Figure 4: Poland: population and economic indicators 21
Figure 5: Poland: ATMs, POS terminals, and household consumption 22
Figure 6: Poland: payment cards transaction value and cards in circulation, 2012-20f 24
Figure 7: Poland: debit card penetration and turnover per card 26
Figure 8: Poland: debit card scheme and issuer transaction value shares, 2016 28
Figure 9: Poland: pay-later card penetration and turnover per card 31
Figure 10: Poland: pay-later card scheme and issuer transaction value shares, 2016 33
Figure 11: Poland: prepaid cards in circulation and transaction value, 2012-20f 37
figure 12: Poland: merchant acquiring transaction volume and value, 2012-20f 39
Figure 13: Poland: acquirers' market share in terms of transaction volume and value (%), 2016 40
Figure 14: Poland: average merchant service charge and interchange fee (%), 2012-20f 41
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