What is mBank?
mBank is a bank transfer payment method used by customers in Poland. Customers can pay online using their own bank account, and no credit card is needed to complete a purchase. This online payment method is convenient and fast since customers don’t need to manually enter data or create a new bank transfer. All they need to do is log into their bank and authorize a predefined transfer order.
mBank was the first fully online bank in Poland, paving the path to mobile and online banking development. It’s the fifth-largest bank in Poland in terms of the size of assets, counting over 3 million active users of mobile banking services.
How does mBank work?
When making a purchase at an online store, customers go through the checkout process and choose mBank as the payment method for completing it. By selecting mBank, customers can simply use their bank account to make an instant transfer to the merchant. No credit card is required, and there is no need to manually enter data or create a bank transfer order.
After checking out, customers log into their online banking and authorize a pre-defined transfer order created automatically during the checkout process. As soon as the bank confirms the transaction, the transfer order is executed and the merchant can be paid out.
Why do merchants and consumers use mBank?
As Poland’s first fully online bank, the majority of mBank customers tend to be younger people with higher education and income above the national average, living in cities. This demographic overlaps considerably with Polish e-commerce users in general – which is one reason why mBank is such an important payment method in Poland.
By using mBank, customers can pay online easily even if they don’t have a credit card. Instant transfers via online banking also benefit merchants through the ability to get paid out faster.
But the main reason to offer mBank for merchants is because it’s one of the most popular payment methods for e-commerce customers in Poland. It’s smooth and hassle-free, providing merchants with an option for streamlining the online shopping experience while reaching more customers and increasing conversions at checkout.
How can merchants start accepting mBank?
The easiest way to implement mBank’s instant bank transfer payment method (and those of other Polish banks) is by using a payment gateway that offers this payment option.
PayU’s platform allows merchants to offer mBank and other key payment methods popular in Polish e-commerce, along with hundreds of other local, global, and alternative payment methods around the world. Through a single global integration, merchants can sell online in any country, while localizing the checkout experience by offering customized payment methods tailored to each individual market.