What is a National
Payment Institution (NPI)?
One kind of organization involved in the payment services industry is a National Payment Institution (NPI). An NPI licence allows a business to issue its own electronic currency and offer all or a subset of payment services, which allows it to diversify into cutting-edge financial solutions.
Capabilities of a National Payment Institution (NPI)
Can Do:
Maintaining user payment accounts, issuing payment instruments (like mobile apps), accepting payments from third parties using payment instruments (like cards), exchanging currencies for transactions, granting payment credits, conducting payment transactions, granting access to account information services (AIS), offering payment initiation services from another person’s account (PIS), issuing e-money, and operating outside of Poland.
Cannot:
Invest the funds held for payment services users.
Key Requirements for Obtaining a
National Payment Institution (NPI) License
• An NPI must be established as a capital company
• The required share capital depends on the scope of services provided, with a maximum of €125,000 (which can be covered by an insurance policy)
• Must provide adequate assurance of proper management
• Required to submit:
• Curriculum vitae (CV)
• Clean criminal record certificate
• Declarations regarding previous business activities
• The applicant must disclose capital ties to the Polish Financial Supervision Authority (KNF)
• Declarations are required from individuals holding significant stakes or influence over the institution
• The licensing process is difficult and intricate.
• It is necessary to have a comprehensive set of documents with extensive substance and scope.
A three-year business plan detailing operations and strategy; a three-year financial plan with predictions; and a list of services the organization plans to offer.
Internal control and risk management system.
• AML/CFT protocols (anti-money laundering and counter-terrorism financing)
• Professional indemnity insurance (PII) or bank guarantee (necessary for PIS services)
• Declarations regarding ownership structure, board members, and capital ties must be submitted to KNF.
Authorization for a National Payment
Institution (KIP/NPI) – Legal Assistance Proposal
Scope of Assistance
In Scope
• Preparation of the application for authorization, including all necessary appendices (excluding documents that must be submitted by the applicant based on the checklist we prepare at the initial stage, e.g., proof of good reputation, skills, and experience).
• Workshops with the applicant to ensure a comprehensive and compliant submission.
• Submission of the application to the Polish Financial Supervision Authority (KNF).
• Handling the first iteration with KNF, including responding to their initial comments and questions.
Price/Fee: 75.000 EUR
Get Started with an EMI license
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