KIP license for Provident Polska

We advised in:

KIP license for Provident Polska

DLK Legal advised Provident Polska S.A. (a company of the International Personal Finance group) in the process of obtaining a permit from the Polish Financial Supervision Authority to provide payment services as a national payment institution (NIP).

Provident Polska S.A. is one of the largest non-bank financial institutions in Poland. Obtaining a KIP license will allow the Company to develop its credit card product, which has so far been offered by the Company under the status of a small payment institution. With the KIP license, the Company will be authorized to provide payment services without the transaction limits prescribed for a small payment institution. In addition, the KIP license gives the Company the opportunity to carry out the so-called passporting procedure and offer its services in all or selected countries of the European Economic Area.

DLK’s advisory included:

-support in the development of the required internal documentation;
-representation of the applicant in proceedings before the Financial Supervisory Commission (FSC).