Based on the information detailed in the announcement, BLIK Romania’s development plans for the digital payment system are believed to bring forth several advantages that include increased security and payment simplification through the generation and usage of an individual six-digit code for every transaction.
BLIK is a payment system that can be accessed in mobile banking applications and connects to a bank account that has no requirement for the user to have a physical or virtual card, enabling payments both in online stores and traditional payment terminals, together with cash withdrawals from ATMs.
Payment with BLIK includes the generation of a unique six-digit code in the bank’s application, valid for two minutes, which can then be entered either online, at a terminal, or at an ATM to have the transaction initiated. Furthermore, every transaction has a requirement for confirmation within the bank’s mobile application.
When commenting on the announcement, Dariusz Mazurkiewicz, Chairman of the Supervisory Board of BLIK Romania and President of the Board of the Polish Payment Standard, BLIK mobile payment operator, stated that BLIK chose the region as it is amongst the countries with the fastest economic growth within Europe and added that they are set to leverage their expertise and business model to develop a ‘modern and unique’ mobile payment system in the country.
As per the press release information, BLIK Romania was entered into the Commercial Register in early December 2022, and in March 2023 the BLIK Romania management board is set to apply to Banca Nationala a Romaniei (BNR) for approval of the BLIK payment system in RON.
Following the receipt of the legal approval from the regulator and the start of the operations, the BLIK payment system will be settled in Romanian lei and made available to all acquirers and issuers with an open BNR account with access to the ReGIS system. The company aims to include BLIK code payments in all sales channels, ecommerce, POS, and ATM, with the system operator set to focus in the first phase on implementing the solution within ecommerce.
Ryszard Drużynski, President of the Management Board of BLIK Romania stated that Romania has one of the most important digital economies in Central and Eastern Europe, as mobile banking and ecommerce are at an increased level of development and customers are both ready and willing to leverage modern payment services.
As per their statement, Statista research highlights that the number of ecommerce users in the region is set to increase by 16%, up to approximately 11 million by 2025, which is believed to present development potential for BLIK. The company aims to provide local users leveraging mobile banking applications with a fast, convenient, and secure payment method for online shopping.
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