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Mobile Payments

Poland: mBank, PayU launch mTransfer Mobile

Friday 30 October 2015 | 11:13 AM CET

Financial services provider mBank has teamed up PayU to launch payment service mTransfer Mobile (mTM) for the Polish market.

With mTransfer Mobile payment solution, customers do not have to log in to the application, the transfer being confirmed just by one 0,5 second click on the smartphone. Additionally, the average transaction’s value is 20 % lower than in ordinary mTransfer.

The similar method, implemented in cooperation with PayU, is a domain of few other banks in Poland including Pekao, Alior Bank, BGŻ BNP Paribas and Getin Bank.

Experts predict that ecommerce’s value in Poland will significantly increase to almost EUR 8 bln and m-commerce to EUR 0,55 bln (approximately 7 % of ecommerce) in 2015.

PayU Payment Solutions enables businesses and individuals in the Middle East and Africa to transact and participate in ecommerce. Owned by multinational media group Naspers, PayU provides professional ecommerce services in Central and Eastern Europe, being present in Poland, The Czech Republic, Romania and Hungary.

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