SPI or Small Payment Institution in Poland is engaged in the provision of a wide range of payment services. The law considers such activities as regulated, therefore it requires a licence from the Polish Financial Supervision Authority (KNF). The SPI licence is a convenient solution for small companies, start-ups wishing to enter the financial market, to test their technical solutions and the demand for services within one jurisdiction.
Advantages of obtaining an SPI licence in Poland
Having an SPI licence allows a company to provide a limited range of payment services in Poland, but the regulatory framework for small payment organisations is less strict than for national payment organisations. This simplifies registration and subsequent reporting. In addition, fintech companies will have no problem finding qualified employees in Poland, whose salaries are lower than the European average.
An important advantage of obtaining an SPI licence is the absence of minimum start-up capital requirements. This allows even small start-ups from the Fintech industry to start operating in Europe.
