Physical cards vanish from ATMs. Poles must learn these 2 methods

The era of ubiquitous plastic in our wallets is slow coming to an end, and this revolution is becoming more visible at ATMs. 1 of the largest ATM networks in the country extends the anticipation of cash withdrawal without utilizing a physical card, which is simply a continuation of the global trend. Although for many Poles the card is inactive a basic tool, the banking infrastructure is changing dynamically. Paying money with a smartphone or code becomes a fresh standard, not a futuristic curiosity. It is simply a signal that it is worth reading alternate methods now, so as not to be amazed at the nearest effort to take cash. The changes, which only a fewer years ago seemed remote, are becoming everyday today, and banks and ATM operators clearly indicate the direction: the future is cardless. It's a trial that has picked up pace in the pandemic, and now nothing can halt it.

“Cardless” is no longer the future. It's the present.

The concept of "cardless", i.e. operating an ATM without a physical card, is no longer just an experiment. In the United States, the giant sector, Chase Bank (JP Morgan), introduced this functionality already in almost all of its devices. According to the Catalan service "Diari", this system, although started in 2018, survived a real boom during the pandemic, erstwhile customers sought more hygienic and faster solutions. Today, it is simply a standard across the network of 1 of the largest banks in the world. This trend does not bypass Poland, but on the Vistula River it has adopted 2 main forms which are gaining popularity.

The first and dominant methods are NFCsthat usage technology known for paying in stores. alternatively of inserting a card into a reader, just put your smartphone or smartwatch in a digital wallet, specified as Google Pay or Apple Pay in the right place. The second, unique for the Polish market, is BLIC system. It allows you to make a single, six-digit code in the banking application, which then fits into the ATM keyboard to authorize the withdrawal. Both methods destruct the request to carry physical plastic and importantly accelerate the process.

BLIC versus digital wallets. Poland has its unique way

While digital portfolios of technological giants dominate Western markets, Poland has developed its own, highly popular solution. BLIK is simply a European phenomenon – a mobile payment strategy created by a consortium of Polish banks. Its strength is the ‘democratic’ nature; it is not linked to 1 operating strategy (like Apple Pay) and does not take over the competence of banks, but only makes its technology available to them. This makes it available to customers of virtually all the largest financial institutions in the country.

The inevitable end of the plastic era is spoken openly by representatives of the banking sector. Błażej Szczecki, Vice president of Bank Pekao S.A., respective months ago, during the Digital Economy meetings, he predicted: “A fewer years ago, something natural was paying by card or cash. Now we have many types of non-cash payments. Plastic's actually starting to go to lame.. We will decision towards real-time payments and cost-free payments." These words are not cast to the wind. This is simply a preview of a strategy that banks are already actively implementing, upgrading their network of devices and promoting fresh forms of access to cash.

How do you pay money without a card? circumstantial examples from Polish banks

The explanation becomes a practice, and Polish customers have more and more opportunities. The breakthrough was the announcement by mBankwhich, in cooperation with networks, Euronet and Planet Cash made the proximity payments available on all its devices. We're talking about an awesome number around 7,000 ATMs throughout Poland. According to the bank's press office, the service is available to all cards with a close-up function, and thus besides for their digital counterparts in phones and watches. Customers who fear this function for any reason may block it by contacting the hotline.

In a akin direction he besides follows Bank Pekao S.A., which systematically develops its ATM network with a proximity function. What was inactive late available in a twelve machines is now becoming a standard in much more locations. The process is intuitive: alternatively of inserting the card, just choice the option of a close-up withdrawal on the screen, apply the telephone or watch to the reader, and then enter the PIN code on the ATM keyboard. This solution is not only more convenient, but besides safer – eliminates the hazard of skimming, i.e. copying the data from the magnetic stripe of the card through a reader overlay.

"The Wailing Revolution". What does the NBP's hard data say?

Despite the dynamic changes, the data of the National Bank of Poland show that we are dealing with a " creeping revolution", not a violent coup. The number of physical payment cards in circulation remains unchangeable and even somewhat increasing. At the end of 2023, Poles had around 45 million, and NBP forecasts at the end of 2024 talk of the number 46.3 million. It's proof that plastic will stay with us for a long time. However, it is crucial to look at another indicators.

The number is increasing importantly close-up payment instruments, i.e. mostly cards stored in the memory of phones and another devices. According to the latest NBP report, at the end of 2023 there were 56.4 million of them, with an yearly increase of over 2.2 million units. The NBP study besides notes that non-cash transactions account for 95% of all card operations. The remaining 5% are cash transactions, mainly withdrawals from ATMs, and it is this section that becomes a field of fresh technological competition. Although physical cards inactive dominate numerically, the habits and available technology clearly indicate that the future of cash withdrawals belongs to smartphones and BLIC codes.