In fresh years, the subject digitalisation became 1 of the hottest topics in the Polish financial sector. Although Poland has been 1 of the leaders in the area of non-cash payments in Europe for respective years, the banks in the country are announcing another step in this digital revolution. Cash Poland is becoming little and little popular, and the future of non-cash payments in the country seems certain. What does this change mean for Poles and how will it affect everyday life?
Digitalisation of payments – fast marketplace development
Poland is already at the forefront of non-cash payments. According to the National Bank of Poland (NBP) data, in 2023 rod 81% of Poles utilized payment cards and the number of transactions carried out with cards exceeded 4 billion. Mobile payments, specified as BLIK, which let instant transfers and telephone payments, have become a standard in Polish society. It is expected that 2025 above 90% of transactions in Poland will be carried out without cash.
The changing public awareness, as well as the improvement of technology, makes non-cash payments increasingly common. Banks and another financial institutions invest heavy in the improvement of mobile applications and innovative solutions that let non-cash payments.
Will Poland become a non-cash country?
Although cash is inactive present in Polish society, experts forecast that in the next fewer years its importance may decrease considerably. In 2023 cash was realised only approximately 17% of transactions. Against the background of another European countries Poland is very good – the EU average is approximately 25% of transactions cash. In countries specified as Sweden and Denmark, cash is only one percent digit full turnover.
Banks and financial institutionssuch as PKO BP, ING is Santander, they foretell that shortly many facilities will be there ‘cashless’. However, this does not mean the full disappearance of cash from circulation, but a gradual simplification in its usage in regular transactions. In larger cities, it can already be noted that any shops and restaurants like non-cash payments and only few let cash payments.
The benefits of digitalisation
- Comfort and speed – non-cash payments are primarily convenience. Transfer, telephone or card payment are faster, which is of large importance especially in retail. Mobile paymentssuch as BLISTER, let instant transfer of money, and Apple Pay is Google Pay let fast buying without the request to carry cash.
- Security – non-cash payments are safer. little hazard of cash theft and the ability to monitor transactions on an ongoing basis make many people choose electronic payments. In addition, card or telephone payments are protected by technologies specified as Tokenization is biometrywhich provides additional protection.
- Easier budget management – utilizing payment cards or mobile applications, it is easier to track your expenses. Many banks offer expenditure analysis services to rapidly check how much we spent on food, amusement or transport. In addition, electronic transfers are easier to track, making it easier to control finances.
Challenges of digitalisation and Poles' concerns
Despite the many advantages of non-cash payments, these changes besides face any challenges. any people inactive have concerns about the full digitisation of finance. Above all, older generations, which are accustomed to conventional payment methods, may fear modern solutions. These concerns concern first and foremost lack of net access, cyber threats Or simply unwilling to change habits.
According to GUS data, 25% of Poles over 60 years of age does not usage electronic banking services, which is simply a challenge in the digitisation process. For this social group as well as for people from smaller towns, cash remains a key component of regular transactions.
The function of the state in the digital revolution
Government of Poland plays an crucial function in the transition to non-cash payments. In 2021 the programme was introduced “Grossless Poland”which aims to support tiny companies in adapting to fresh payment standards. In turn, further investments in digital infrastructure are planned in 2025 to facilitate the usage of mobile payments and improvement digital banks.
Future of payments in Poland
Over the past fewer years, there has been a clear trend towards full digitisation of payments in Poland. The year 2025 may prove crucial in the process of transformation, in which cash gradually subsides its place to modern technologies. Banks, government and technology institutions have full public support for the improvement of this digital revolution, but the challenge is to guarantee adequate access to fresh technologies, especially for the aged or little prosperous.
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End of cash in Poland? Banks announce a digital revolution
