How to Distantly Launch Online Business in Poland from Europe?
Many European entrepreneurs find the market of Poland highly perspective, and they are right in their suppositions. Be it finances, gambling, or ecommerce; the country demonstrates high potential and awesome possibilities for companies that would decide to enter its market.
You probably as well are tempted by the marvelous possibilities the country draws for your business. We’re eager to assist you in your plans! Here we share everything one must know about how to arrange the essential part of any merchandise – accepting payments and transfer finances from Polish customers.
Poland has long ago joined the top of the most fast-growing European countries. Indeed, since becoming a part of the European Union in 2004, Poland showed a steady increase in GDP, which is exceptionally great when compared to a general EU tendency of the economic slowdown. As for the 2020 year, the growth of its GDP is expected to reach 4.3%, which is the 4th position in the rank for all the EU countries.
The physical location of the country is as well an important factor to be considered. It is situated in Central Europe, thanks to which it accumulated the transportation routes from all around the continent. The questions of stability of the country’s economy, its financial potential, as well as logistic problems, solve automatically if you decide to unfold your business activity there. The only trouble left is the most important one – collect payments from the end-buyers – still, with assistance from PayOp, it wouldn’t be a problem for too long.
Payment Possibilities to Consider
SEPA unites 36 countries with an only goal to optimize their finances moving. All transactions within this program are made in Euros, thanks to which no money is lost during conversions from local currencies to the generally accepted one. In 2014, almost 80% of all card payments within the EU zone were handled by SEPA. Poland is in the list of countries that support this money transferring method. There are numerous advantages of using SEPA in your business maintenance, that are:
- extremely low commissions, or their complete absence, especially if compared with SWIFT
- no transaction limitations, which makes SEPA suitable to businesses with sizeable money turnover
- promptness, with an average tie-up of 1 banking day.
SWIFT is a widely-known and equally widely-spread system that brings together 210 countries and more than 11,000 financial entities. It is a reliable and common way to send or receive paychecks, yet, it can’t brag about the quickness of transactions or the low price of its service.
A local Polish payment transferor, Przelewy24, uses immense popularity in the country. The service proceeds clients’ operations almost immediately, while wire transfers (SEPA and SWIFT) require at least one day to be fulfilled. The service is popular thanks to the support of numerous payment methods (165 polish banks, Visa, MasterCard, Google and Apple Pay, etc.) in more than 50 currencies. It is a secure and quick method of money transferring, which greatest minus is its limitation in terms of areal extent.
Which one to choose?
The choice between the listed payment methods should depend on your needs and the peculiarities of your business. If your bank account exists in the country where SEPA isn’t supported, then SWIFT might be the optimal choice – yet, its commission for the bank services might be unmanageable even for large businesses.
The simplest and cheapest way to receive money from your Polish business franchising is to use SEPA. The absence of commission is the greatest argument in favor of this method – yet, it has its own disadvantages. For example, the decrease in conversion is an absolutely common situation when a seller’s payment methods seem unreliable to the buyer. Therefore, when a Polish customer sees a redirection to some unknown website, he thinks twice before going further with his shopping.
Of course, the optimal solution would be to use the local payment system Przelewy24, which has all the advantages of the SEPA system together with almost instant operations processing. Yet, its unavailability to merchants outside of Poland makes it highly impractical to implement in any European business.
There are at least three options for you to choose, yet, none of them seem 100% suitable and convenient. But why pick up only one?
By using PayOp, you can allow your customers to purchase your goods in the most favorable method – either it would be SEPA, Przelewy24, or anything else. You, on the other hand, would be able to store all the received money on a single PayOp account – and then withdraw them in any suitable way altogether, without waiting three different services to process your transfers.
Gambling, ecommerce, IT software studios, car renting – businesses of all ranges will benefit from cooperation with a payment aggregate that would unite all available transaction methods into a single convenient shell. Such an opportunity will be especially advantageous for entrepreneurs from China, India, Turkey, or South Korea.
To make a common buyer your regular customer, you have to demonstrate the highest quality of your services at all stages of shopping. Try PayOp – and forget about troubles with money transfers only to forward your efforts on more important tasks.