Millennium PAY - a novelty for the e-commerce market

Bank Millennium introduces the Millennium PAY payment gateway for its corporate clients operating in the e-commerce industry. It allows you to accept electronic payments in online shops.

According to the data included in the PwC report "Prospects for the development of the e-commerce market in Poland 2018-2027", the global e-commerce market is experiencing stable growth. The COVID-19 pandemic has accelerated growth, forcing consumers to use e-commerce platforms. This trend is expected to continue in the coming years. The projected value of the e-commerce market in Poland by 2027 will amount to PLN 187 billion, and the number of e-consumers will increase by 3.4 million.

Due to the growing potential of this sales channel, Bank Millennium, in cooperation with the payment operator - PayTel, enables online payments for e-commerce using a new payment gateway - Millennium PAY. To take advantage of the payment gateway offer, you need to have a business account in Bank Millennium and run an online shop. Registration in the service is free of charge, and customers will also benefit from a preferential commission rate of 0.7% for the first year of using Millennium PAY. After this period, the rate will be 0.95%, regardless of the turnover.

In the initial period of operation, Millennium PAY offers the most popular payment methods: fast transfers, card payments and BLIK. In the future, the service is to be extended to include the possibility of splitting payments into instalments or of deferred payment dates.

Entrepreneurs operating in the e-commerce market face many challenges every day. Many of them decide to take advantage of the offer of an account maintained at Bank Millennium. That is why, as a bank, we want to help them by providing solutions supporting the growth of online sales, and in the case of some of them, the launch of sales activities in this channel - says Tomasz Pol, Head of the Retail Banking Marketing Department at Bank Millennium.

Millennium PAY responds to the needs of e-commerce companies that are looking for simple and secure solutions. It's about securing customer data and preventing various types of online fraud. Millennium PAY also offers the PayWatch service. With the support of artificial intelligence, it provides greater protection for e-sellers.

As PayTel, we make sure that the services we offer respond to the needs of the market in the best possible way. Cooperation with Bank Millennium in creating an online payment platform was quite a challenge, which we were happy to undertake. Our solution ensures transaction security, speed and intuitiveness, i.e. the most important features for today's e-merchants and e-consumers - says Adam Tencza, Member of the Management Board of PayTel.

For entrepreneurs taking their first steps in the world of e-commerce, the Bank has prepared a special offer in cooperation with the Partner - the operator of the Sellingo platform. After setting-up an online store on the Sellingo platform, Bank Millennium customers can test it for 6 months for free. At the same time, they will also be able to use the Millennium PAY service.

We are consistently building an entire ecosystem of services for entrepreneurs. Our electronic banking offers tools that allow you to conveniently manage your company from the moment of its establishment through the entire development path. We have noticed that many of the entrepreneurs who register a new business in our electronic banking declare that they want to sell on the Internet. A favourable offer of an online shop and online payments will help them quickly and effectively turn their business idea into reality - says Paweł Idzikowski, Head of the Corporate Banking Product Team at Bank Millennium.

The Millennium PAY service was created in cooperation with the SIBS Group - an organisation with a global reach, operating in over 20 countries on 3 continents. It specialises in providing reliable and innovative payment solutions, as well as providing advisory services to financial institutions and business entities. SIBS is one of the largest payment processors in Europe, handling more than 8 billion transactions per year. In Poland, SIBS owns PayTel, one of the most dynamic payment terminal operators on the market.

Bank Millennium attaches great importance to the development of services for corporate clients. In previous years, it introduced, among other things: the ability to open a company with a business account directly from the bank's website or mobile application; Millennium Accounting; the Millennium POS application, which turns a smartphone into a payment terminal; full online application for a cash loan with a de minimis guarantee; In company profiles, it has also made available services previously available only in individual profiles (e.g. BLIK C, public transport tickets and parking fees).

Detailed terms and conditions, including the price list and the Regulations for the use of the Millennium PAY payment gateway are available at https://www.bankmillennium.pl/biznes/bramka-platnicza-millennium-paylink opens in a new window

About Bank Millennium:

Bank Millennium is a nationwide modern bank, which offers its services to all market segments via a network of branches, a network of relationship managers as well as electronic banking. It uses state-of-the-art technologies and draws on best banking tradition, successfully competing in all segments of the financial market. It is a digital bank, striving to be come the most personalised bank in Poland. The Bank's priority is to make customers' everyday lives easier by offering them comfortable and intuitive access to financialand non-financial services. Customer centricity and proper care for the highest quality customer experience are the key to all changes introduced by the Bank.The bank has built its knowledge of the Polish financial market on many years of experience in providing services to enterprises and individual clients, complemented by the knowledge and international practice in the field of finance brought by Banco Comercial Portugues - the largest commercial bank in Portugal, which is a strategic shareholder of the Bank.

About PayTel:

As a leading payment service provider on the Polish market, it operates in omnichannel, adapting its offer to the current needs of business. The brand specialises in cashless payments performed by way of payment cards and mobile payments and management of the network of POS terminals. PayTel together with SIBS Group (to which it belongs) and Business Partners, offers solutions also in the area of electronic and online payments including payments performed through the e-commerce gateway and QR payments. By combining innovative solutions and the highest quality of services offered, PayTel provides its customers with stable and secure cooperation. PayTel is part of the SIBS capital group, of the largest payment processors in Europe. More information about the company can be found at: www.paytel.pl.

About SIBS:

Founded in 1983, SIBS provides financial, modern, reliable and secure payment services to more than 150 million users from three different continents, processing more than 8 billion transactions per year. In addition to being a major payment processor in Europe, SIBS is a benchmark for security and anti-fraud and business process outsourcing services. SIBS's mission is development and continuous innovation. SIBS has established itself as an important international player, with a presence in many markets, including Europe, Asia and Africa. Its solutions operate in over 350,000 terminals, which process about 2 billion transactions. Noteworthy is the activity in Romania, where SIBS has acquired a leading company in the field of card payment processing - Romcard / Supercard - which now operate under SIBS Romania. In Poland, SIBS owns PayTel, one of the most dynamic payment terminal operators on the market. SIBS occupies a significant position in the markets of Central and Eastern Europe, contributing to the development and digitalisation of these countries. In its day-to-day work, SIBS continuously pursues the mission of being a partner for public and private entities, creating value for society through the development and management of payment solutions, processes and related services based on technology that combines security, convenience and innovation, respecting ethical principles and sustainability conditions. More information about SIBS can be found at www.sibs.com.