Poland's largest banks are teaming on a new mobile payment and mobile banking standard scheduled for launch later this year.

The banks involved in the new scheme are PKO BP, Alior Bank , Bank Zachodni WBK , BRE Bank and ING Bank Slaski. They will be building the mobile payment system on the PKO BP mobile banking platform; it will eventually allow users to make mobile purchases online and off, access funds through ATMs, and transfer funds.

What makes this effort particularly compelling for Polish consumers is the reach of the partners. Combined, the participating banks serve 16 million customers, or approximately 70 percent of the Polish market.

"We want to participate in building a mobile payment system which is likely to become the standard and provide our customers the broadest possible acceptance network," said BZ CEO Mateusz Morawiecki. "We believe that an initiative that covers 70 percent of bank customers is poised to become a widely used standard."

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