Contract negotiations with Kevin UAB

We advised on the project:

SUPPORT IN ESTABLISHING COOPERATION BETWEEN ESERVICE AND KEVIN UAB

The PSD2 Directive introduced a legal framework for the provision of new payment services: account information services (AIS) and payment transaction initiation services (PIS). Payment institutions, electronic money institutions and banks (TPP) may be authorized to provide AIS and PIS services. The payment initiation service is a form of payment similar to pay-by-link transfers popular in Poland, with the difference that the account provider, as a rule, cannot collect remuneration from the TPP initiating the payment transaction. After the implementation of the PSD2 directive into Polish law, many acquirers in Poland made efforts to expand the offer of available payment methods by electronic transfers as a payment transaction initiation service.

DLK Legal advised the eService Center of Electronic Payment Services on establishing cooperation with Kevin UAB. The area of cooperation established is the provision of open banking solutions in e-commerce and m-commerce channels.

eService is the leader of the Polish payment card acceptance market and the largest acquirer in Central Europe. Kevin UAB is a payment institution supervised by the Bank of Lithuania, which, under the obtained permit, has the powers, among others, to: to provide open banking services (i.e. account information access and payment transaction initiation services).

The advisory services of DLK Legal with respect to such projects mostly include:

• development of a regulatory concept for cooperation between financial institutions in the field of payment services offered
• support in negotiating a cooperation agreement between eService and Kevin UAB
• ongoing legal advice on technological aspects related to the assumed regulatory model of cooperation and the planned services