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Small Payment Institution in Poland

What is an SPI licence and why is it needed?

Any company wishing to operate in the financial segment of the market of a particular country must obtain a licence. For non-credit financial institutions, each country has licences regulating all possible activities, including payment transactions.

In order to legally operate a payment system in Poland, a small company offering a limited range of services without the need to be fully authorised as a payment institution must obtain an SPI (Small Payment Institution) license. Without it, data processing, storage and transmission are not possible.

SPIs must register with the Polish Financial Supervision Commission (in Polish – Komisja Nadzoru Finansowego, KNF). Licensing ensures that the organisation adheres to certain standards and requirements to maintain the integrity and stability of the financial services sector.
IFB Consulting provides professional assistance in preparing and submitting an application for SPI licensing in Poland. Our specialists have extensive experience in solving such tasks. If you have not yet decided where exactly to register a small payment organisation or have other questions, we will advise you on which direction to take in order to achieve your goal.

Requirements for applicants for an SPI licence in Poland

To obtain an SPI licence, a company must meet the following requirements:
  • The average monthly amount of payment transactions does not exceed EUR 1,500,000 per month. Otherwise, the company will not be considered a Polish Small Payment Institution and therefore must become an API (Authorised Payment Institution) and be subject to other capital requirements.
  • The company does not provide services related to initiating payments or account information.
  • The managers or persons responsible for managing the business have an economic/financial background and have a good reputation – no convictions for money laundering, terrorist financing offences or any other offences in the financial sector.
  • The company’s office is registered in Poland.
  • The composition of the top management is represented not only by foreign citizens, but also by residents of Poland.
It is worth noting the necessity of serious preparation of a full package of documents for obtaining an SPI licence. You will need extracts from the company register, documents with the organisational structure, which, among other things, will contain data on:
  • bank accounts;
  • processing centres;
  • settlement banks, etc.
The applicant should also indicate which payment instruments he plans to use for money transfers.
Our experts will help you to collect all the necessary documents in accordance with Polish law. We will also make sure that your company’s activities comply with the established regulations and requirements. With us, you can be sure that the licensing procedure will be completed quickly and successfully.

Opportunities for obtaining an SPI licence in Poland

An SPI licence in Poland entitles you to provide the following services:

  • Placing cash in a payment account.
  • Withdrawing cash from the payment account.
  • Carrying out transactions, including the transfer of funds to the user’s payment account.
  • Carrying out transactions with a payment card.
  • Carrying out credit transfers, including standing orders.
  • Issuing payment instruments or acquiring payment transactions.
With an SPI licence, your business will also be able to handle e-wallets and mobile payments.

Why choose IFB?

  • Our team is made up of fintech professionals who have all the necessary industry knowledge and extensive experience in licensing.
  • We provide a full range of services: from consultations on any issues to legal support of your company at all stages of obtaining a licence.
  • Our company is result-oriented: we practice a strictly individual approach, provide truly valuable advice and practical assistance in achieving your goal.
All the processes involved in obtaining an SPI licence will go quickly and smoothly when our experts are involved. We will take care of the preparatory procedures, put together the documentation package and resolve any problems that may arise to enable your company to grow in your chosen industry.

Want to expand your business and provide financial services in a promising European market? Entrust your SPI licence in Poland to the IFB team. Contact us today!

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