PKO Płacę później (PKO Pay later) Qorus Banking Innovation Awards 2023

PKO Pay later - a deferred payment called “buy now, pay later” (BNPL) service. Every customer of PKO Bank Polski who uses PKO Pay later can make purchases within the granted limit and pay it off within 30 days - without interest. Benefits for the customer • Quick and easy activation - 2.5 minutes (average service activation time) • The service is available on the iPKO internet service and IKO mobile application. The customer knows them well; he does not need to set up additional accounts in external applications or services. It can also be activated at the bank's branches • Automatic repayment - the customer does not need to remember the date and amount. Repayment is taken automatically after 30 days from the selected account • Flexibility - additional cash can be used immediately, for example, when shopping, if there is not enough money in the account • No fees - if the customer makes the repayment of the limit on time, the service is free of charge • Convenience and accessibility - the payment service is available in online stores (with "Pay with iPKO" – Pay-by-link or BLIK - domestic mobile payment scheme) and stationary stores (BLIK) Benefits for the Bank • Customers who have an active service are more transaction-oriented - both the number of BLIK payments and the average amount of a single payment have increased among them • Users of the service are also more active in the IKO mobile application and iPKO internet service (increase in the number of logins) • Increasing the base of potential customers for loan products - developing a niche in the banking sector, reducing the use of competing non-banking products • Increasing the NPS ratio - building relationships with customers by expanding the product portfolio