Strong growth in card payments

In the third quarter of 2014 the number of card payments in Poland soared by 32 percent year-on-year to 476.8 million, according to data from the National Bank of Poland. The value of card transactions grew slower, by 20 percent y/y. For the first time ever, the value exceeded PLN 40 billion and reached PLN 41.2 billion. Such growth would not be possible if not for a cut in the interchange fee, Robert Łaniewski from the Non-cash Payment Development Foundation told Dziennik Gazeta Prawna. It was reduced from 1.3 percent to 0.5 percent as of July 1.