Polski Standard Płatności, the Blik mobile payment system operator, celebrated its 10th birthday yesterday in Warsaw. During the celebration, the results of an interesting study conducted on behalf of PSP by the consulting firm EY were presented. The study was intended to show how much impact the functioning and development of Blik has on the Polish economy. The study is based on analyzing available data, econometric research, and economic modelling.

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According to estimates carried out by EY, last year, Blik's activities generated PLN 42 billion of so-called added value in the economy. In other words, the Polish mobile payment system was responsible for 1.2 percent of the GDP (gross domestic product). This translates into approximately PLN 700 of income per person per year, taxes and contributions to the state amounting to PLN 15 billion, and jobs for approximately 200,000 people.

EY also calculated what would have happened if Blik had not existed. It estimated the value of electronic transactions that would not have taken place in the Polish economy without Blik, i.e., they would not have been replaced by other cashless payment methods. In this figure, which corresponds to the so-called net effect of Blik's operations, the system generated additional electronic payments of around PLN 65 billion in 2023, which accounted for 3.3 percent of household consumption.

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"Blik has changed the way Poles pay, but it has also become an example of how modern technologies can translate into the entire market environment. The ubiquity of Blik payments has had a real impact on the efficiency of companies' operations. In the retail sector alone, Blik could be responsible for reducing operating costs by up to PLN 1.3 billion a year. It is also estimated that if it did not exist, the value of electronic payments in Poland in 2023 would be lower by as much as 8.8 per cent", says Dariusz Mazurkiewicz, president of the Blik operator.

According to analysis by EY economists, if Blik meets its goal of doubling the value of transactions by 2027, its support for Poland's economy could increase from 1.2 percent of GDP in 2024 to 2.1 percent.