The Cashless Future Is Almost Here

By 9 October 2018Fintech

Money may be one of humanity’s greatest economic inventions, but in a rapidly changing world that values time and practicality above all, searching your pockets for coins is a thing of the past. Research shows that 60% of Poles prefer credit cards, money transfers and phone apps as payment methods — creating opportunities for fintech industry to develop.

All kinds of institutions and businesses — ambitious startups, banks and corporations — support cashless transactions. This economic model is exceptional on a global scale. Even the government backs the idea, offering payment terminals with a very favourable financial framework, even for small businesses. This benefits entrepreneurs and customers alike — when people have a choice of payment methods, they are more likely to visit the place again, contributing to higher profits but also greater customer satisfaction.

Cashless transactions are a great factor that powers the fintech industry. According to the Map of Polish fintech, a project developed by Cashless, Fintech Poland and Accenture, the majority of the biggest Polish fintech companies specialise in developing cashless transactions — providing software, implementation or device production.

“The development of this innovative sector is the effect of the market’s needs,” says Paweł Widawski, vice president of Cashless Poland foundation, one of fintech’18 partners. He claims that Polish banks are much more eager to outsource technological solutions than banks from western Europe. “The market is still short of a few hundred thousands payment terminals. We have the ambition to fill out this gap. This year, Polska Bezgotówkowa is planning to install 100 000 terminals that will realize 1 billion worth of transactions,” Widawski adds.

If you’re passionate about fintech, AI, blockchain and Big Data, Impact fintech’18 is something just for you! Over 150 speakers on three stages, 2000 attendees and dozens of lectures and workshops are waiting for you in Łódź on November 28th and 29th! That’s not all! You can also meet some special guests, such as Jadwiga Emilewicz, Teresa Czerwińska, Marek Chrzanowski and Maciej Chorowski. Register now!

 

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