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Payment Apps and Systems in Europe 2019, Company Profiles

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Payment Apps and Systems in Europe 2019, Company Profiles 1 Profiles of selected payment apps & systems in Europe Company profiles, 2019 Inteliace Research January 2019 Table of Contents Selected payment apps & systems* 1. Swish (Sweden) 2. Blik (Poland) 3. Jiffy (Italy) 4. Paym (United Kingdom) 5. MobilePay (Denmark) 6. Vipps (Norway) 7. Paydirekt (Germany) 8. Bizum (Spain) 9. Paylib (France) 10. Lydia (France) 11. Twint (Switzerland) 12. MB Way (Portugal) 13. Siirto (Finland) 14. Twyp (Spain) Remarks: * Please note that the availability and accuracy of data differes depending on particular company. Number of users or payment volumes might be incomplete or missing for selected players P2P, EC, B&M Swish APP Basic facts Functionality • Brand: Swish • Type: P2P & other payments app Payments - eCommerce ✓ • Operator: Getswish AB Payments - B&M stores ✓ • HQ: Kungsgatan 55 3TR, 111 22, Stockholm, Sweden P2P payments ✓ • Owners: Danske Bank, Handelsbanken, Länsförsäkringar, Loyalty solutions x Nordea, SEB and Swedbank and Sparbankerna ATM withdrawals x • Markets served: Sweden Other: invoice (with QR) ✓ • Key dates: 2012 launch; 2014 P2B, 2016 eCommerce • Key competitors: PayPal, Klarna Source of money • Supporting Partners: 13 major banks Bank account ✓ • Accepting network: over 2.8k merchants, 6.6m private users (P2P), 172k business accounts (Q3 2018) Cards: Visa/MC/other x • Revenue: SEK 89 million (2017) Balance held within app x Other: x Overview Interface • Swish is a P2P and mobile payment app, launched 2012 by 6 largest banks in Sweden together with the Central bank Mobile NFC x • Initially Swish started as a P2P payments app and then it has QR codes/camera ✓ gradually added P2B and eCommerce functionality. Building on its Bluetooth (BLE) x success in P2P payments, Swish has become a convenient accepting method for smaller firms and non-profit organizations Transaction codes x thanks to its low cost nature Other: x • The source of money for Swish payments is bank account Performance (partially estimated) Applications Number of users (private) in million • Swish payments, regardless of the type of receiver can be 6.1 6.7 initiated by the sender by either indicating the telephone number 5.1 of the receiver or by scanning the QR code presented by the 3.8 receiver or the merchant • Payments need to be confirmed with bankID app in a mobile device of the payer 2015 2016 2017 18Q3 • Transaction limits are set individually by particular banks • Receivers are able to create own QR codes via the Swish website Number of transactions, in million p.a. 363 277 168 Recent events 80 • In 2017, Swish launched QR code functionality for all its clients 2015 2016 2017 18Q3* • In 2018, Swish partnered with Truecaller, a communication app, * Last 4 quarters enabling transfers directly from a phonebook ending in Q3 2018 Transaction mix, by the number of transactions Percent of total, as of: Sept. 2018 Total=100% As of Q3 2018, Swish was the most heavily used local* payment P2B & app in Europe. The number of transactions exceeded 360 million ECOM p.a. of which nearly three quarters were P2P transfers. 27 * Excluding PayPal and global pays 73 P2P Sources: Company reporting, press, Inteliace analysis 3 Top players in payments, I 2019 P2P, EC, B&M, ATM Blik SYS Basic facts Functionality • Brand: BLIK • Type: Mobile and P2P payments Payments - eCommerce ✓ • Operator: Polski Standard Płatności Sp. z o.o. Payments - B&M stores ✓ • HQ: ul. Cypryjska 72, 02-761 Warszawa, Poland P2P payments ✓ • Owners: 6 large banks operating in Poland Loyalty solutions x • Markets served: Poland ATM withdrawals ✓ • Key dates: Founded 2014, Mobile app started 2015 Other: x • Key competitors: Google Pay, Pay-by-links (various banks) • Supporting Partners: 13 partner banks Source of money • Accepting network: >280k B&M merchants, 19k ATMs, over 60k Bank account ✓ eCommerce businesses Limited, Cards: Visa/MC/other • Revenue: PLN ~12 million (2017) in tests Balance held within app x Overview Other: x Interface • Blik is a mobile payment system enabling online and B&M payments, ATM withdrawals and P2P transfers Mobile NFC x • Blik is not an independent payment app - It is a system and a QR codes/camera x functionality embedded in mobile banking apps of cooperating Bluetooth x banks • Prior to using Blik, client needs to sign up via the home bank Transaction codes ✓ app. The links (current account & telephone) are stored in a Other: apps of respective banks ✓ proxy database of Blik Applications Performance (partially estimated) Number of users • In online stores, payments can be executed with a 6-digit in million numeric code generated within the mobile app. A more convenient option, one-click-payment is also available in some 6.1 6.6 cases 3.1 • In B&M stores, payments are executed with 6-digit numeric 1.4 codes generated within the mobile app while the code needs to be inserted manually by the client in the POS terminal 2015 2016 2017 18Q2 • Blik enables cash withdrawals from supported ATM machines. A numeric code generated in the app needs to be input by client into the ATM and the transaction is to be confirmed in the app Number of transactions, in million p.a. 75 Recent events 33 • In early 2018, two major banks Pekao and Raiffeisen joined Blik 8 and as a consequence, Blik became available to over 90% of all 1 retail banking clients in Poland and to over 96% of all banking 2015 2016 2017 18Q3* mobile app users in Poland * annualized • In Q3 2018, Blik was enabled in over 2800 stores of the largest grocery network in Poland – Biedronka • In Dec. 2018, Blik announced entering a strategic partnership Transaction mix, by the number of transactions with Mastercard with the goal of implementing convenient Percent of total, as of Q2 2018 contactless payments in all POS terminals. Mastercard is also Total=100% expected to acquire a stake in Bilk's capital P2P ATM 6 6 • Blik seems to leverage its competitive advantages in areas of P2P 17 payments, ATM transactions and in eCommerce in Poland B&M online • The recent partnership with Mastercard is expected to help boosting 71 Blik payments within B&M (POS) network as well to enable Blik payments by selected foreign merchants with a significant number of customers from Poland Sources: Company reporting, press, Inteliace analysis 4 Top players in payments, I 2019 P2P, B&M Jiffy SYS Basic facts Functionality • Brand: Jiffy • Type: Mobile and P2P payments Payments - eCommerce x • Operator: SIA S.p.A. Payments - B&M stores ✓ • HQ: Via Francesco Gonin, 36 - 20147 Milano, Italy P2P payments ✓ • Owners: Major banks in Italy and PE funds Loyalty solutions ✓ • Markets served: Italy ATM withdrawals x • Key dates: Founded in 2014 Other: P2B, P2G, P2NP ✓ • Key competitors: PayPal, Satispay, MasterPass, ApplePay • Supporting Partners: 130 Italian member banks (2017), covering Source of money 80% of all current accounts in Italy Bank account ✓ • Accepting network: Selected retail networks, e.g. Iper Cards: Visa/MC/other x • Revenue: n/a Balance held within app x Overview Other: PagoBancomat ✓ • Jiffy is a mobile payment system developed by SIA and enabling Interface P2P transfers and payments in stores Mobile NFC ✓ (expected) • Jiffy is not an independent payment app - It is a system and a functionality embedded in mobile banking apps of cooperating QR codes/camera ✓ banks Bluetooth x • Prior to using Jiffy, clients need to activate the service via their home bank linking its bank account with telephone number, which Transaction codes x information is stored in a proxy database Other: apps of respective banks ✓ • Jiffy is an open architecture solution: (EPC-ERPB complainant), it is „TIPS” ready and accessible to all banks operating in SEPA Performance (partially estimated) Applications Number of users in million • Jiffy allows private users to transfer money, request money and 4.5 5.0 pay in retail outlets. Furthermore, Jiffy Business allows the collection of payments in App-to-App mode • In stores, payments are initiated by scanning a QR code at the 0.25 0.5 POS, by entering store id number or with contactless technology. Same process can be used for other P2B transfers like donations, 2015 2016 2017 18Q2 etc. • Jiffy also offers a functionality of associating Jiffy user profile with the merchant loyalty card and further VAS Number of transactions in million p.a. Recent events n/a n/a n/a n/a • In early 2018, Jiffy payments were enabled at stores of Finiper Group incl. Iperdrive markets, the first countrywide large retailer in 2015 2016 2017 18Q2 Italy. The service works with use of QR-codes * annualized • In Jul. 2018, SIA partnered with PagoBancomat, with the goal to integrate Jiffy service and enable PagoBancomat cardholders to Transaction mix, by the number of transactions make instore, online and P2P transactions Percent of total, as of 2017 Total=100% B&M (very low) • Although Jiffy started as P2P instant transfers system, recently other payment types, e.g. payments in retail outlets and other VAS have been developed ~100 • The cooperation with PagoBancomat will help to expand the Jiffy P2P service in retail trade Sources: Company reporting, press, Inteliace analysis 5 Top players in payments, I 2019 P2P Paym SYS Basic facts Functionality • Brand: Paym, Pay m • Type: P2P payments & the proxy database Payments - eCommerce x • Operator: Mobile Payments Service Company Limited Payments - B&M stores x • HQ: 2 Thomas More Square, London, E1W 1YN, UK P2P payments ✓ • Owners: Faster Payments Scheme Ltd Loyalty solutions x • Markets served: United Kingdom ATM withdrawals x • Key dates: Founded in
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