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Poland Payment Market Overview
Online shopping has taken some time to establish itself within Poland: the country’s business to consumer e-commerce market is worth €11 billion, representing a modest 1.9 percent of the overall European e-commerce market. Growth, however, has been steady in recent years and is set to continue at a double-digit compound annual growth rate of 10 percent to 2021.
Brands hoping to break into the Polish e-commerce market will need to be patient. An overwhelming majority of Polish people, 94 percent, currently say they would not buy a product via a click-through advert on a social media website or an app. Retailers will need a long-term strategy to establish themselves in such an arena, with the need to incentivize consumers to adopt online shopping habits.
Payment Methods in Poland
Key Market Indicators in Poland
Banks in Poland
Mobile Carriers in Poland
Integrate Polish Payment Methods
At present, bank transfers are Poland’s most-used payment method, taking a 50 percent share of all e-commerce transactions and €5 billion in yearly sales. This method is expected to grow at a compound annual growth rate of eight percent to 2021, but the rapid rise of cards as a payment option will dent the overall share of transactions carried out by bank transfers. Indeed, cards are forecasted to grow at a compound annual growth rate of 25 percent up until 2021 and will take almost 30 percent of the payment market. Card usage is growing quickly in the country as people turn away from cash payments, and Mastercard and Visa are already well established.
E-commerce fraud in Poland is low. Approximately one percent of online shoppers in the country experience fraud each year, compared with a European average of two percent. One reason for this is that there is a correlation between countries with very high card usage and the instances of e-commerce fraud. Bank transfers are popular in Poland and this payment method is typically less commonly used by fraudsters. Poland’s card usage is relatively low but is expanding very quickly, so merchants should be prepared for an increase in fraud attempts.
|E-commerce market size||€11 billion|
|Internet penetration rate||72.4%|
|Mobile penetration rate||65%|
|Cellular technology standard||3G, 4G, 5G|
|Dual sim usage||35%|
|Popular mobile OS||Android, iOS|
|Big Mac Index||2.77|
|Average annual income||€18,352|