The Polish Financial Supervision Authority (KNF) has revoked mPay S.A.’s authorisation to provide payment services as a national payment institution. The decision was adopted unanimously on 25 June 2026 and is immediately enforceable.
According to the KNF, the decision was based on the finding that the company did not ensure prudent and stable management of its payment services business. The regulator concluded that the statutory conditions for withdrawing the authorisation had been met.
Once the decision is delivered, mPay will be required to stop providing the payment services covered by its previous KNF authorisation of 13 September 2016. The restriction also applies to services provided through agents. The company will no longer be allowed to enter into new agreements with payment service users.
The KNF has given mPay until 30 September 2026 to wind down its payment services operations and settle related obligations. By that date, the company must terminate all agreements with payment service users and satisfy any claims arising from those agreements in accordance with applicable law.
The company must also end agreements with other counterparties connected directly or indirectly with the provision of payment services, including agreements with agents and entities referred to in Poland’s Payment Services Act.
What does this mean for customers?
Until its obligations towards users have been settled, and no later than 30 September 2026, mPay must allow holders of payment accounts and payment instruments to withdraw their funds or transfer them to payment accounts held with other payment service providers selected by the users.
The KNF decision concerns mPay’s operations as a national payment institution. The regulator based its decision on provisions of the Polish Payment Services Act of 19 August 2011, including requirements relating to the prudent and stable management of payment services activities.
