FinTech and digital banking solutions can utilize Euronet’s physical assets (ATMs and POS) through the reach of the company’s worldwide network and accessibility of the Digital Integrated Payments Cloud.
One example is BLIK, an in-app mobile payment method offered by the majority of banks in Poland. BLIK offers users payment security by supplying codes that can be used in place of debit card or bank account numbers for transactions.
BLIK users enter the codes on POS devices and e-commerce websites for purchases and at ATMs and CDMs to withdraw and deposit money. The BLIK app can also send peer-to-peer (P2P) payments.
Of these activities, ATM withdrawals are one of the most popular for BLIK users, and Euronet’s ATM network in Poland of approximately 8,000 machines provides many of these cash payouts through the codes the BLIK app generates.
Euronet ATMs began processing BLIK withdrawals in 2015 and have gradually increased the transactions since then to almost 1 million per month. During the past two years in particular, the cash amount withdrawn monthly has tripled. It will soon reach $100 million (USD) total since the BLIK-Euronet technical integration began.
In addition to withdrawals, Euronet began accepting BLIK-based deposits at approximately 3,000 machines in Poland in 2018.
The convenience and security BLIK provides combined with the trust provided by well-known partners such as Euronet have made it Poland’s third most popular payment method behind only Visa and MasterCard.