The Global Cash Index - Poland Analysis

The Global Cash Index - Poland Analysis

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Odds are, when a consumer makes a purchase in Poland, he or she is handing over physical cash to pay for it.

This may not be the case for much longer, however.

According to the brand new Global Cash Index™ Poland Analysis, cash is still by far the preferred method of payment in the country. Index research reveals that Polish consumers spent more than €194 billion in cash in 2015, more than four times as much spent via other means.

But, as it turns out, young consumers in Poland are readily adopting more modern payment methods such as credit and debit cards and mobile wallets. According to a recent study from Visa, 79 percent of Polish mobile phone users have made a mobile payment in the last year, and research from Statista reports that the number of smartphone users in the European nation is on the rise.

Here are some key takeaways from the new Global Cash Index™ Poland Analysis:

  • Poland’s cash share accounted for 41 percent of the country’s GDP in 2015
  • Cash share is expected to fall to 32 percent of the GDP by 2020
  • Since 2000, there has been a 289 percent increase in the number of ATM terminals in Poland, to 20,531 ATMs in 2014.

The Global Cash Index™ Poland Analysis also features an interview with Joanna Erdman, director of core service and non-banking products at mBank, one of the largest banks in Poland. PYMNTS recently caught up with Erdman to discuss the state of cash in Poland and the future of payments in the country.

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