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PAYMENT INNOVATIONS IN POLAND: A NEW APPROACH OF THE BANKING SECTOR TO INTRODUCING PAYMENT SOLUTIONS

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dc.contributor.author Polasik, Michał
dc.contributor.author Piotrowski, Dariusz
dc.date.accessioned 2016-06-21T11:32:21Z
dc.date.available 2016-06-21T11:32:21Z
dc.date.issued 2016-03-31
dc.identifier.citation Ekonomia i Prawo. Economics and Law, No. 1, Vol. 15, pp. 103-131
dc.identifier.issn 2392-1625
dc.identifier.other doi:10.12775/EiP.2016.007
dc.identifier.uri http://repozytorium.umk.pl/handle/item/3553
dc.description.abstract The aim of our work is to determine the involvement and plans of banks concerning the introduction of payment innovations in the Polish market. This empirical study was based on the results of two surveys. The first survey allowed us to obtain the official positions of 24 commercial banks. The second survey included the opinions of 70 experts, who were senior managers from banks and other payment market institutions. The paper presents the scope of the implementation of payment innovations and five-year plans outlined by the banks. It proved that commercial banks, including both the largest ones and those with a smaller market share, are extremely interested in payment innovations and are ready to implement many solutions at the same time. This new phenomenon can be described as the “universal innovativeness” of banks. Most of these innovations are intended to improve customer convenience, which helps banks to achieve an important strategic objective. Poland had recent changes in legal regulations which considerably reduced the interchange fee in card schemes. Our results indicated that, in spite of the decrease of the banks’ revenue, the innovation process did not slow down. A new situation is coopetition between banks in Poland, used as a successful model to implement the domestic mobile payment system BLIK. The Polish market of payment services has recently become one of the most innovative in the world. The diversification of innovations implemented by the banks may be read as a strategic response of those institutions to the dynamic technological advancements of FinTech and the related uncertainty of future trends in the payment market. The results have allowed us to formulate a hypothesis that is a new paradigm of a portfolio approach to introducing payment innovations that have appeared in banking.
dc.language.iso eng
dc.rights Attribution-NoDerivs 3.0 Poland
dc.rights info:eu-repo/semantics/openAccess
dc.rights.uri http://creativecommons.org/licenses/by-nd/3.0/pl/
dc.subject payment innovation
dc.subject bank strategy
dc.subject payment services
dc.subject FinTech
dc.subject banking coopetition
dc.subject interchange fee
dc.title PAYMENT INNOVATIONS IN POLAND: A NEW APPROACH OF THE BANKING SECTOR TO INTRODUCING PAYMENT SOLUTIONS
dc.type info:eu-repo/semantics/article


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