The Polish Blik is already worth one billion zlotys. Goes abroad

Fintech believes Blik may become one of the most important payment platforms with pan-European reach. It has know-how, supporting owners and has no complexes – writes “Puls Biznesu” on Wednesday.

Blik earned 32 mio PLN last year

The National Court Register has already published the last results of the Polish Payment Standard, known more widely under the Blik brand. Last year, the company earned PLN 32 million net, and at the EBITDA level of PLN 42.5 million, compared to PLN 30.5 million in 2020.

“After applying the multiplier used for the valuation of technology companies, we land at the level of PLN 1 billion. It can therefore be concluded that Blik deserves the name of a local unicorn. The real, measured in dollars, lacks a lot, but nothing is lost” – it says.

According to the PSP newspaper, the company established by six banks is today one of the most important assets of the banking sector and after seven years of operation its tool has actually become a payment standard on a considerable Polish market.

According to “Puls Biznesu”, Blik will show the true profit-creating potential only this year. In 2021 and in previous years, the result was a derivative of the minimum margin and high volume.

In June, Blik increased the commission charged to online sellers. Dariusz Mazurkiewicz, the president of PSP, is convinced that despite this, the turnover will continue to grow rapidly, so revenues will go up by leaps and bounds.

“The time has come to market services. Over the years we have built an infrastructure that has brought great value to e-commerce. Our research shows that customers give up shopping if the payment is not handled by Blik” – says Dariusz Mazurkiewicz.

Enter another market

Now Blik is getting ready to enter another market that is only just taking shape in Poland. In June, four banks applied to UOKiK for approval of the plans to implement the buy now pay later service (BNPL) in Blik.

“This is one of our strategic projects. We assume that several dozen percentage points of our growth in the coming years will come from deferred payments. This is a service that customers want, and we have the potential to meet their expectations” – assures Mazurkiewicz.

The head of the PSP announces that in the coming months, Blik will boast about the first implementations abroad. If not for the war in Ukraine, it would have happened a long time ago – work on launching the Polish tool in Ukrainian banks was well advanced.

“The effort, however, was not wasted. The relations established at that time with the Ukrainian central bank were useful in releasing cash payments in hryvnia for refugees from Ukraine in Poland,” the newspaper notes.

Source: BusinessInsider Photo: Blik


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