PayPo has been operating since 2016, and the company's solution can be used in 30,000 cases. online stores, including: CCC, eobuwie.pl, Modivo, Reserved, Answear, MediaMarkt, Sephora, Decathlon, AliExpress and Temu. Polish consumers eagerly use the company's services – the number of active PayPo users already amounts to 1.8 million people. In 2023, it handled approximately 13.5 million transactions for a total amount of PLN 3.7 billion.
– Obtaining a license for a national payment institution is an important moment in the development of PayPo. The decision of the Polish Financial Supervision Authority confirms our credibility and professionalism in providing payment services. Thanks to this license, we can plan broader development that will allow us to support our clients and business partners even better. This is also extremely important for us in the context of our upcoming activities, we will soon make available to our customers new payment products that will revolutionize the way we pay for purchases – comments Radosław Nawrocki, founder and CEO of PayPo.
Scope of services covered by the license
The authorization granted by the Polish Financial Supervision Authority covers the following services:
● accepting cash deposits and making cash withdrawals from the payment account and all activities necessary to maintain the account;
● execution of payment transactions, including transfer of funds to a payment account with the user's provider or with another provider:
● using a payment card or similar payment instrument,
● by providing transfer order services, including standing orders;
● execution of payment transactions listed in point 2 against the funds made available to the user under the loan, and in the case of a payment institution – the loan referred to in Art. 74 section 3 of the Payment Services Act;
● issuing payment instruments;
● enabling the acceptance of payment instruments and the execution of payment transactions initiated with the payer's payment instrument by the merchant or through him, consisting in particular in handling authorizations, sending the payer's or the merchant's payment orders to the issuer of the payment instrument or payment systems, with the aim of transferring the funds due to the merchant to the merchant , excluding activities involving the clearing and settlement of these transactions within the payment system within the meaning of the Act on settlement finality – acquiring.
