Polish BLIK goes to Slovakia. Why world's major payment systems are expanding into India? Read below.

Opening new markets is always exciting, but today's news is even more so.

The well-known Polish payment method is adding another operational market — Slovakia. In 2023, BLIK acquired Slovak company VIAMO, which is now renamed to BLIK SK. Thanks to a partnership with Slovakia's Tatra Banka, payment method will be available to local users in the coming months. In Poland, BLIK shows incredible results — nearly every second online transaction is made through this payment method. Similar success is expected in the neighboring region.

Meanwhile, Adyen, Amazon Pay, Cashfree Payments, and BillDesk have obtained licenses for cross-border payments in India. Now, these companies can provide payment services for transactions related to imports and exports. India is a very large market, interesting not only to iGaming operators but also to fintech and other businesses. Indians are a gambling nation, which makes them attractive to the gambling industry. Additionally, at the state and local business levels, India collaborates with many countries, acts as a supplier of goods, and accumulates labor force for companies. Undoubtedly, entering this market will be profitable for payment systems, and it will also positively influence the market as a whole, and the ability of foreign businesses to enter it.

Interest in Asia today is higher than ever, which can be explained by several factors. Among them are the complexities of cooperating with the European Union for many jurisdictions, regulatory challenges, and high costs. Dealing with Asia is easier and often cheaper, and many countries actively support such endeavors. For example, Southeast Asia is currently experiencing a significant boom in technology and capital inflows. From the perspective of payment systems, diversity and convenience of payment methods in Asia allow businesses to operate comfortably and avoid overpaying. The average processing cost is half that of the EU, although the average transaction amount may also be significantly lower. In this case, volumes make up for it.

Find more news, case studies, and articles in the Mono Talks section.