Table of Contents

1. EXECUTIVE SUMMARY 2
1.1. Market overview 2
1.2. Key facts 3
1.3. Top five industry events 4

2. PAYMENT INSTRUMENTS 10
2.1. Current payment environment 10

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 12
3.1. E-commerce market analysis 12
3.2. Alternative payment solutions 14
3.2.1. PayPal 14
3.2.2. Android Pay 14
3.2.3. Blik 14
3.2.4. Masterpass 15
3.2.5. Visa Checkout 15
3.2.6. PayU 15
3.2.7. Fortumo 15

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 16
4.1. Regulatory framework 16
4.1.1. SEPA card standardization 16
4.1.2. Implementation of the Payment Services Directive (PSD) 17
4.1.3. Payment Services Directive 2 (PSD2) 18
4.1.4. Interchange fee regulation 19
4.2. Anti-money laundering 20
4.3. Foreign direct investment regulations 20

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 21

6. PAYMENT CARDS 24

7. DEBIT CARDS 26
7.1. Debit card market analysis 26
7.2. Competition in the debit card market 28
7.3. Debit card comparison 30

8. PAY-LATER CARDS 31
8.1. Pay-later card market analysis 31
8.2. Competition in the pay-later card market 33
8.3. Pay-later card comparison 35

9. PREPAID CARDS 37

10. MERCHANT ACQUIRING 39

11. APPENDIX 42
11.1. Abbreviations and acronyms 42
11.2. Supplementary data 43
11.3. Definitions 56
11.4. Methodology 58
11.5. Bibliography 60
11.6. Further reading 60

List of Tables
Table 1: Poland: key facts, 2016 3
Table 2: Poland: regional benchmarking of payment cards, 2016 3
Table 3: Poland: mode of entry of foreign banks 20
Table 4: Poland: debit card comparison and key features, 2017 30
Table 5: Poland: gold credit cards comparison and key features, 2017 35
Table 6: Poland: premium credit cards comparison and key features, 2017 35
Table 7: Poland: charge cards comparison and key features, 2017 36
Table 8: Poland: payment instrument transaction values (PLNbn), 2012-16e 43
Table 9: Poland: payment instrument transaction values ($bn), 2012-16e 43
Table 10: Poland: payment instrument transaction volumes (millions), 2012-16e 43
Table 11: Poland: payment cards in circulation by type (millions), 2012-20f 43
Table 12: Poland: volume of payment card transactions (millions), 2012-20f 44
Table 13: Poland: value of payment card transactions (PLNbn), 2012-20f 44
Table 14: Poland: value of payment card transactions ($bn), 2012-20f 44
Table 15: Poland: debit cards in circulation (millions), 2012-20f 44
Table 16: Poland: debit card transaction volumes, 2012-20f 45
Table 17: Poland: debit card transaction values (PLN), 2012-20f 45
Table 18: Poland: debit card transaction values ($), 2012-20f 45
Table 19: Poland: debit cards in circulation by scheme (millions), 2012-16e 46
Table 20: Poland: debit card transaction values by scheme (PLNbn), 2012-16e 46
Table 21: Poland: debit card transaction values by scheme ($bn), 2012-16e 46
Table 22: Poland: debit card transaction values by issuer (PLNbn), 2012-16e 46
Table 23: Poland: debit card transaction values by issuer ($bn), 2012-16e 47
Table 24: Poland: pay-later cards in circulation (millions), 2012-20f 47
Table 25: Poland: pay-later card transaction volumes, 2012-20f 47
Table 26: Poland: pay-later card transaction values (PLN), 2012-20f 48
Table 27: Poland: pay-later card transaction values ($), 2012-20f 48
Table 28: Poland: pay-later cards in circulation by scheme (000s), 2012-16e 48
Table 29: Poland: pay-later card transaction values by scheme (PLNbn), 2012-16e 48
Table 30: Poland: pay-later card transaction values by scheme ($bn), 2012-16e 49
Table 31: Poland: pay-later card transaction values by issuer (PLNbn), 2012-16e 49
Table 32: Poland: pay-later card transaction values by issuer ($bn), 2012-16e 49
Table 33: Poland: credit cards in circulation (millions), 2012-20f 50
Table 34: Poland: credit card transaction volumes, 2012-20f 50
Table 35: Poland: credit card transaction values (PLN), 2012-20f 50
Table 36: Poland: credit card transaction values ($), 2012-20f 50
Table 37: Poland: credit cards in circulation by scheme (000s), 2012-16e 51
Table 38: Poland: credit card transaction values by scheme (PLNbn), 2012-16e 51
Table 39: Poland: credit card transaction values by scheme ($bn), 2012-16e 51
Table 40: Poland: charge cards in circulation (millions), 2012-20f 51
Table 41: Poland: charge card transaction volumes, 2012-20f 51
Table 42: Poland: charge card transaction values (PLN), 2012-20f 52
Table 43: Poland: charge card transaction values ($), 2012-20f 52
Table 44: Poland: charge cards in circulation by scheme (000s), 2012-16e 52
Table 45: Poland: charge card transaction values by scheme (PLNbn), 2012-16e 52
Table 46: Poland: charge card transaction values by scheme ($m), 2012-16e 53
Table 47: Poland: prepaid cards in circulation (millions), 2012-20f 53
Table 48: Poland: prepaid card transaction values (PLNbn), 2012-20f 53
Table 49: Poland: prepaid card transaction values ($m), 2012-20f 53
Table 50: Poland: merchant acquiring transaction volumes (millions), 2012-20f 53
Table 51: Poland: merchant acquiring transaction values (PLNbn), 2012-20f 53
Table 52: Poland: merchant acquiring transaction values ($bn), 2012-20f 54
Table 53: Poland: acquirers’ transaction volumes (millions), 2012-16e 54
Table 54: Poland: acquirers’ transaction values (PLNm), 2012-16e 54
Table 55: Poland: acquirers’ transaction values ($m), 2012-16e 54
Table 56: Poland: retail outlets and card-accepting merchants (000s), 2012-20f 55
Table 57: Poland: debit card average interchange fees (%), 2012-16e 55
Table 58: Poland: debit card merchant service charge and interchange fee (%), 2012-20f 55
Table 59: Poland: pay-later card average interchange fees (%), 2012-16e 55
Table 60: Poland: pay-later card merchant service charge and interchange fee (%), 2012-20f 55
Table 61: Key definitions 56

List of Figures
Figure 1: Poland: payment instrument shares by transaction value (%), 2012 vs 2016 10
Figure 2: Poland: payment instrument shares by transaction volume (%), 2012 vs 2016 11
Figure 3: Poland: e-commerce value 12
Figure 4: Poland: population and economic indicators 21
Figure 5: Poland: ATMs, POS terminals, and household consumption 22
Figure 6: Poland: payment cards transaction value and cards in circulation, 2012-20f 24
Figure 7: Poland: debit card penetration and turnover per card 26
Figure 8: Poland: debit card scheme and issuer transaction value shares, 2016 28
Figure 9: Poland: pay-later card penetration and turnover per card 31
Figure 10: Poland: pay-later card scheme and issuer transaction value shares, 2016 33
Figure 11: Poland: prepaid cards in circulation and transaction value, 2012-20f 37
figure 12: Poland: merchant acquiring transaction volume and value, 2012-20f 39
Figure 13: Poland: acquirers’ market share in terms of transaction volume and value (%), 2016 40
Figure 14: Poland: average merchant service charge and interchange fee (%), 2012-20f 41

Companies Mentioned
- Alior Bank
- Millennium Bank
- Bank Zachodni WBK
- mBank
- ING Bank ?l?ski
- PKO Bank Polski
- Bank Pekao
- Crédit Agricole
- Citi Handlowy
- EVO
- FirstData
- Elavon
- Visa
- Mastercard
- American Express