No physical card will be needed for payments, smartphone application is only thing, which you need.

Slovenskú verziu článku nájdete na tomto odkaze.

What is BLIK and how it works?

In the beginning of operation in Slovakia, BLIK is going to work within the structures created by VIAMO. During the next steps the existing services will be integrated into BLIK SK and the strategy of further development is going to be developed. BLIK is an innovative mobile payment system that facilitates daily settlements and enables instant transactions.

The method operates within a dedicated mobile application. This ensures exceptional convenience and the highest transaction security. Advanced technology allows users to perform actions by means of a one-time 6-digit code, used for payment initiation at anytime and anywhere. It expires after 2 minutes and then a new one is generated.

BLIK is very universal and versatile: it can be used for payments in the e-commerce channel, peer-to-peer transactions. Nowadays, 16 m of Poles actively use it and appreciate it for its convenience. We strive to make Slovaks feel the same towards BLIK.

What I need to use BLIK as a person and as a company (hardware, software etc.)?

Users don’t need much when they want to use BLIK – neither payment card, nor special software. BLIK as a system is available in a mobile application. What means that you just need a smartphone and a payment app like your banking app – accepted and available virtually anywhere. The operation is conducted on a basis of 6-digit code generated in the app. It is worth-mentioning that BLIK is open for all of the companies which are interested in its implementation. We cooperate with banks, clearing agents and merchants.

Do you need a support of banks? What’s the situation in Slovakia, do you have any feedbacks to cooperation?

We work in close cooperation with banks because they pose a significant part of the process of payment.

We see a significant potential in this market, especially considering our plans throughout the euro area. As an experienced company, we are confident that we can provide a unique payment experience and repeat the success-story from Poland. We are open to the cooperation with all the banks in Slovakia and with some of them we are in contact with.

Where BLIK operate and what’s the supposed date to launch in Slovakia?

BLIK fully operates in Poland since 2015 and we have ambitious plans regarding the expansion in Europe. We had also established BLIK Romania, and we are currently intensively working on its development. We hope that BLIK will be available there soon.

When it comes to BLIK services in Slovakia, we are constantly working on them. Two years ago, we announced the acquisition of VIAMO. Since then, BLIK SK had already obtained the necessary approvals from National Bank of Slovakia; moreover, we had a meeting with representatives of the payment market, where a first demonstrative transaction was conducted.

We are open for cooperation with all banks in Slovakia, being in contact with several of them, as well as many acquirers and merchants. Initially, our efforts are concentrated on e-commerce development; however, we are planning to gradually broaden our offer in Slovakia. We will certainly keep you informed about the next steps and details in due time.

What is the relationship between Viamo and BLIK?

In 2022, BLIK bought 100 % of shares in VIAMO SK. Then, after obtaining the approval from the National Bank of Slovakia (NBS), Polski Standard Płatności, the operator of the mobile payment system BLIK, acquired control of the Slovak company VIAMO. As a result, the company was transformed into BLIK SK and Polski Standard Płatności is its sole owner.

What is the difference between BLIK and bank?

BLIK is a payment system which enables conducting various transactions through bank mobile applications. It is a way to pay easily and safely for products and services. However, BLIK is a part of banking ecosystem which means that we strictly cooperate with the banks, as we work within their structures and they make our payment method available to their clients.  

What is the biggest advantage of BLIK?

BLIK is a very versatile payment method which guarantees many advantages to its users. However, we would say that the biggest asset of our system is its safety, what is of the utmost importance considering cyber threats present nowadays. What is more, the process of payment is easy and comfortable. Our users appreciate BLIK especially in the e-commerce channel where they want to pay in the most simple and intuitive way – as swift as possible.

How BLIK see the future of payments?

As a FinTech company we believe that the future of payments is going to be increasingly digital, with a focus on convenience, security and speed. The market of payments will become even more diversified, clients will have plenty options available, but certainly mobile payments are going to pose as the predominant payment method. Data align with it, according to the research by PWC, it is predicted that until 2030, cashless transactions could reach 200% growth globally.

Moreover, we can expect to see a wider variety of payment options available – all of them will hold different functions. Mobile apps, digital wallets and contactless payments will play a key role in facilitating settlement. However, everything is going to become more automated and will be happening in the background, like BLIK’s “one-click” payments that make it possible to finish transactions with just one click, without having to use a 6-digit code, if a user saves a particular shop in his banking app.

It is also predicted that open banking will allow third-party providers to access customer financial data with permission, enabling innovative new payment methods and financial products.

Another important direction in the development of electronic payments will certainly be the introduction of international settlements, that is, the ability to pay and transfer money to each other instantly between users from different countries. Work on such initiatives in the European market is underway. Overall, the future of payments is likely to be very dynamic.

Eventually, we would like to draw the attention into the growing importance of local payment systems in Europe. They are even nowadays becoming more relevant than solutions offered by Big Tech companies (e.g. Apple, Google or Paypal). We think that European countries will focus in the closest future on their own schemes based on the existent infrastructure. We expect that in Europe will exist two or three such systems and we strive to be one of them.

The article was written in cooperation with BLIK.

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Michal Reiter

Michal Reiter
Publikujem o dianí na internete, súkromí, bezpečnosti a testujem notebooky, smartfóny, audio produkty a ďalšie gadgety.