Polish payment system Blik aims to expand in Europe

Blik, a Polish mobile payment system, has teamed up with Aion Bank and Vodeno to launch Blik-as-a-Service (BaaS) in Europe. The solution is aimed at European financial institutions, enabling them to access Blik's services via the combined infrastructure of Vodeno and Aion Bank. The latter offers integrated banking solutions based on an advanced cloud platform.

FACTS

• Blik recently established a strategic partnership with Aion Bank and Vodeno to offer Blik-as-a-Service (BaaS) to financial institutions in Europe.
• This collaboration will enable fintechs and banks to benefit from Blik's services thanks to the combined infrastructure of Vodeno and Aion Bank. Financial solutions include instant payment services in local currencies.
• Vodeno is emphasizing its status as a financial technology provider to justify its major role in this partnership. Aion Bank is a bank regulated by the European Central Bank.
• The two partners, who have already joined forces in the past, are now repeating the experience to offer integrated banking and payment solutions, using in combination Vodeno's innovative cloud platform and Aion Bank's comprehensive banking services.

CHALLENGES

• A Europe-wide roll-out of “as-a-service”: The new partnership marks an important milestone for Blik, as it is its first Europe-wide “as-a-service” agreement. The aim of the deal is to enable Blik to expand beyond Poland and gain a foothold in the European payments market.
• Enhanced local payment solutions: This partnership also aims to enhance instant and localized payment solutions for a wide range of economic players.
• Digitization of financial services: For Vodeno and Aion Bank, this initiative is part of a broader trend towards the digitization of financial services, offering solutions tailored to the modern, secure requirements of the European market.

MARKET PERSPECTIVE

• The financial services market in Europe is evolving rapidly with the rise of digital and integrated payment solutions. The collaboration between Blik, Vodeno and Aion Bank comes at a time when demand for flexible, efficient payment services is growing rapidly.
• Blik, already popular in Poland, sees this as an opportunity to extend its influence through a network of European partners. Its ambitions are growing, having already extended its service to France.
• However, Blik operates in parallel with the pan-European EPI payment system, which claims its legitimacy as an interoperable solution on the European market.