Polish payment system Blik eyeing Netflix like platforms

Polish payment system Blik eyeing Netflix like platforms

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Netflix, Uber and other platforms are possibly accepting payments using Poland’s Blik soon as the payment system is heading towards the international expansion plans, said the chief executive of Polish Payment Standard (PPS), the company behind the system.

Six of the Polish banks joined hands to create PPS, which has set the Blik in banking apps and offered users with services like online or in store payments, money transfers and cash withdrawal at ATMs.

In recent years, payment industry went through major shake-up seeing consolidations as industry’s major players remained changing consumer habits and adapting advanced technologies which came developing rapidly.

PPS CEO Dariusz Mazurkiewicz is in anticipation that introduction of the system on to Netflix and other similar sites will be helpful in expanding the system internationally, and stepping forward PPS is going through couple of partnerships which are yet to be announced.

Extending the area of our operations with such player could result in building an interesting acceptance network by the company, not only for the customer of Polish banks but possibly for customers of any other bank, Mazurkiewicz told Reuters.

For playing in the next phase of its international strategy, PPS will be inviting banks from other countries and that is why it is currently focusing on its efforts at its home ground of central Europe, Mazurkiewicz said.

Company is also in plans of selling its payment system software to countries where it is not intending launching it under the Blik brand. PPS, to sell its system in other markets, is currently negotiating with two companies, one in Latin America and other in Africa, Mazurkiewicz said.

PPS last year succeeded to partner with Mastercard which Mazurkiewicz said will make the company able to offer contactless payments that are likely to begin in the second half of this year.

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She is the Managing Editor for in-depth discussions and analysis as well as breaking news at Markets Morning. She works closely with Editor-in-Chief Zac Berry on content and publishing initiatives for the site. Brianna Clemons has worked as a financial journalist and editor since 1997. She lives in Bucks County, PA, with her husband, four young children and one dog.

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