BLIK's Record-Breaking H1 2024: 1.1 Billion Transactions and 46% Surge in Value

BLIK's Record-Breaking H1 2024: 1.1 Billion Transactions and 46% Surge in Value
Over One Billion BLIK Transactions in Six Months

Hey Payments Fanatic!

BLIK saw impressive growth in the first half of the year, with over 1.1 billion transactions—up 40% from last year. The most significant increase was in POS payments, which rose 58% to 258 million, with over 100 million being contactless. However, online payments dominated, making up nearly 49% of all BLIK transactions.

On its busiest day, BLIK processed nearly 10 million transactions, averaging 71 transactions per second. The total value of transactions in the first half of 2024 was EUR 36.6 billion, a 46% increase from the previous year.

E-commerce remains BLIK’s stronghold, with 544.5 million online transactions in the first half of 2024, up 28% from the same period in 2023. The total value of these transactions reached EUR 18.9 billion.

POS transactions also gained traction, with 258 million payments made, a 58% increase year-on-year. Contactless payments accounted for 40% of these transactions, growing nearly 90% compared to last year. BLIK’s contactless feature is now used in 154 countries.

BLIK phone transfers surged as well, with 282.7 million transactions in the first half of 2024, up 50% from the previous year. These P2P payments now represent over a quarter of all BLIK transactions.

The system also saw nearly 3 million new users, bringing the total number of active BLIK users to 17 million by the end of June 2024.

Cheers,

Marcel


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PAYMENTS NEWS

🇵🇱 H1 2024: Over one billion BLIK transactions in six months. From January to June this year, the highest percentage growth in transaction volume occurred in the POS segment, where BLIK payments increased by 58% compared to the first half of 2023. 

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GOLDEN NUGGET

How does Mastercard 𝐌𝐞𝐫𝐜𝐡𝐚𝐧𝐭 𝐐𝐑 𝐜𝐨𝐝𝐞 replace PoS (Point of Sale)?

Let's dive in:

The diagram below by Hua Li shows how Mastercard MPQR (Merchant Presented QR) works.

There is 𝐧𝐨 𝐏𝐨𝐒 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐥 𝐨𝐫 𝐩𝐡𝐲𝐬𝐢𝐜𝐚𝐥 𝐜𝐚𝐫𝐝 involved.

Step 1️⃣ The merchant presents its QR code at checkout.

There are 𝐭𝐰𝐨 𝐭𝐲𝐩𝐞𝐬 of QR codes:

- 𝐃𝐲𝐧𝐚𝐦𝐢𝐜: the code is generated for each transaction and includes the payment amount

- 𝐒𝐭𝐚𝐭𝐢𝐜: the code is used for all transactions

Step 2️⃣ The customer scans the QR code using a mobile app and confirms the payment.

Step 3️⃣ The payment app sends transaction data to the transaction originator to initiate MPQR payment.

Step 4️⃣ The transaction originator debits the customer’s account in the customer’s bank.

Steps 5️⃣ and 6️⃣ The transaction originator sends a payment request to the Mastercard network. Mastercard routes the payment request to the merchant’s bank.

Steps 7️⃣ and 8️⃣ The merchant’s bank approves or declines the request. If it is approved, the merchant’s bank credits the merchant’s account.

Steps 9️⃣ - 1️⃣1️⃣ The payment response is sent back all the way to the mobile app.

How does Mastercard 𝐌𝐞𝐫𝐜𝐡𝐚𝐧𝐭 𝐐𝐑 𝐜𝐨𝐝𝐞 replace PoS (Point of Sale)?

Source: Hua Li


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