BLIK payment system gets central bank’s authorization to operate in Romania

The Board of the National Bank (BNR) authorized on October 1 the operation of the BLIK instant payment system in Romania. It will be administered and operated by BLIK Romania SA and ensure the settlement of e-commerce payment transactions up to RON 50,000, BNR said.

The decision will enable the development of this system in local currency (RON) and open it to Romanian payment service providers, the company said. As a first step, the operator plans to focus on the development of payments in the e-commerce channel.

"The granting of the operating authorization by the BNR is a key step in the development of BLIK in Romania, which is one of the most important markets in the CEE region, especially in terms of e-commerce growth. The dynamic development of the digital sector and the growing popularity of cashless transactions create the perfect conditions for the implementation of a modern payment solution such as BLIK," said Ryszard Drużynski, CEO of BLIK Romania SA.

In Poland, where BLIK has been developed for almost 10 years, payments in the e-commerce channel account for half of all transactions.

To make an online payment via BLIK, users need a phone with internet access and the bank's mobile app. To pay, the user has to generate a six-digit BLIK code in the app, enter it on the shop's website, and confirm the operation on the mobile device.

BLIK is a common mobile payment standard created in 2015 in Poland. Currently, it is actively used by nearly 17 million users.

(Photo source: BLIK Romania)