Yesterday, we announced that edo’s patented technology platform will power Visa Oferty, a new Visa Europe rewards program developed exclusively for the Polish market. Now, our amazing technology is being used to offer cashback to cardholders in the U.S., UK and Poland!
You might be asking yourself: “Why Poland?!” well, “Don’t forget Poland!” From 2008-2013, as other EU countries felt the effects of the global economic crisis, Poland saw GDP growth of over 20%, and has posted 23 years of uninterrupted economic growth. Since joining the EU ten years ago, over two million jobs have been created in the country, and average GDP per capita has grown faster than all other large economies at a similar level of development. Dang, y’all… it’s a Polish Miracle! (Also, the word “zloty“, the official currency, is a really fun word to say!)
Expanding our offers into Poland presents edo with a fun challenge. Presently, Poland has one of the lowest levels of card penetration in the EU, although the rate of debit and credit card usage is growing rapidly. (Did you know that one of the most popular forms of payment in the country is by wire transfer?)
And m-commerce – buying stuff on your smartphone – is still less popular in Poland than elsewhere in the EU, with rates estimated at 5-7% of all purchases compared to 28% in the UK. That rate is estimated to grow by over 100% this year, however.
Card-linked marketing offers are one way that edo is partnering with Visa Europe to increase rates of both card usage and mobile commerce. We hope that Poland loves cashback as much as we do!