Poland's banks to team up on payments app

Warsaw

BANKS competing in one of Europe's most cutthroat markets decided to team up on a new technology that allows their customers to leave their wallets at home.

The Polish startup, named Blik, enables customers of nine banks to draw cash from ATMs, wire money using telephone numbers and pay for goods or services on the Internet and in shops without sharing card or bank data. Two years after its launch, it has 3.5 million users and enables two million transactions per month.