Provident Polska S.A., a trusted leader in Poland’s non-banking financial sector and part of the International Personal Finance plc (IPF) Group, proudly announces that it has obtained a full payment institution (KIP) license from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego).
This milestone marks a transformative moment for Provident Polska, positioning the company for accelerated growth and enhanced service delivery within the Polish financial landscape.
Following a rigorous two-year application process, the approval of the KIP license signifies a monumental achievement, affirming the company’s compliance with stringent operational and regulatory standards. The license enables Provident Polska to offer unrestricted financial services, removing the limitations previously imposed under its small payment institution designation. This newfound flexibility paves the way for the expansion of its credit card offerings and the elevation of customer service to new heights. [1]
Commenting on the achievement, Country Manager Marcin Żuchowski said, “Obtaining the license to provide payment services as a National Payment Institution is, for us, a confirmation of the quality of our products, as well as the transparency and highest standards represented by our company.” [2]
A Turning Point for Provident Polska and Poland’s Non-Banking Sector
This milestone marks the dawn of a new era for Provident Polska, which has served the financial needs of Polish customers for 28 years. By obtaining the full payment institution license, the company can now provide a wider range of services, including issuing credit cards without transaction limits.
This enhanced capability allows for the development of financial products designed to meet the evolving demands of Polish customers, who increasingly seek accessible, flexible, and innovative financial solutions. [3]
Over 200,000 Credit Cards Issued with Growth on the Horizon
By the end of 2024, Provident Polska had already issued more than 200,000 credit cards under its previous small payment institution status.[4] This existing foundation positions the company for rapid expansion in the coming year. The new license removes barriers and unlocks the potential for exponential growth in the Polish market.
The ability to issue credit cards without transaction caps offers enormous benefits to customers. It ensures greater flexibility in managing finances, from everyday expenses to larger, more strategic purchases. This capability aligns with Provident Polska’s commitment to delivering financial products that are both affordable and effective.
Breaking Barriers to Create Opportunities
One of the breakthrough advantages of the KIP license is the ability to conduct financial activities with no pre-set maximum transaction limits. [5] Previously, Provident Polska’s growth was constrained by the regulatory ceilings applied to small payment institutions, requiring careful balancing of customer needs and operational feasibility. [6]
The new designation as a full payment institution eliminates these constraints, empowering Provident Polska to intensify its focus on innovation and service expansion. This achievement reflects more than just compliance with regulatory requirements—it underscores the company’s commitment to trust, vision, and the relentless drive to empower its customers.
The KIP license serves as a testament to Provident Polska’s dedication to helping families and individuals achieve their financial goals in a sustainable and responsible way.
By leveraging this newfound flexibility, Provident Polska is now better positioned to serve a broader customer base while tailoring its products and services to meet evolving financial needs.
Enhancing Operations in Poland
The KIP license not only enables Provident Polska to scale its operations domestically but also allows the company to develop its financial offerings further by leveraging advanced technologies. From innovative digital payment solutions to enhanced mobile application capabilities, Provident Polska is committed to making financial interactions simpler, faster, and more convenient for Polish customers. [7]
The flagship credit card product, introduced under the small payment institution regime, has already proven its utility as a flexible financial tool. The full payment institution license provides a platform for expanding this product line, making it accessible to more customers while introducing additional benefits such as lower fees, added features, and personalized financial solutions. [8]
A Boost to Poland’s Economic Landscape
The importance of this achievement for Poland’s broader financial and economic ecosystem cannot be overstated. Provident Polska’s growth contributes to the country’s job creation, financial inclusion initiatives, and technological advancements in financial services. The receipt of the KIP license not only solidifies the company’s position as one of Poland's leading non-banking financial institutions but also highlights the country’s forward-thinking regulatory framework, which supports innovation while ensuring consumer protection.
This milestone reflects Provident Polska’s capabilities and its commitment to raising standards of service and reliability. It also underscores the company’s role in driving economic development, inspiring others in the market to follow suit. By strengthening its foundation, Provident Polska is poised to create a positive ripple effect across the financial sector, furthering its mission to empower customers and contribute to Poland’s economic progress.
Poland First, But Europe Within Reach
While Provident Polska remains firmly committed to its Polish customer base, the KIP license opens the door to international opportunities. Thanks to the EU passporting procedure, Provident Polska can now offer its services in other European Economic Area (EEA) member countries. [9] This regulatory harmonization ensures that Provident Polska’s expertise and customer-centric approach can be shared beyond Poland’s borders.
A Responsible Approach to Growth
While growth and innovation are central to Provident Polska’s strategy, the company remains steadfast in its commitment to responsible lending and financial inclusion. The KIP license provides an opportunity to not only build scale but also engage in meaningful initiatives that promote financial literacy and help customers make informed financial decisions.
This responsible approach aligns with IPF’s broader mission to be a force for good. [10] It underscores Provident Polska’s dedication to building long-term relationships based on trust, transparency, and value delivery.
Looking Ahead to 2025 and Beyond
With the receipt of the KIP license, Provident Polska is poised for accelerated growth in 2025. The company aims to expand its service portfolio, grow its customer base, and explore untapped opportunities within the Polish market.
Gerard Ryan, CEO at IPF has stated: “With good growth momentum and a strong balance sheet, we enter 2025 in an excellent position to accelerate both growth and the pace of change across the Group. Building on our track record of success, we will maintain our focus on serving those consumers who need us most and enhancing our customer experience, while pursuing growth opportunities with discipline and a clear focus on sustainable returns.” [11]
Sources
[1] Page 7 of the IPF Report
[2] https://bpcc.org.pl/pl/provident-polska-z-licencja-krajowej-instytucji-platniczej/
[3] Page 7 of the IPF Report
[4] Page 3 of the IPF Report
[5] https://www.dlklegal.com/en/doswiadczenie/kip-license-for-provident-polska/
[6] https://voltlegal.com/small-payment-institution-mip-in-poland-an-ideal-solution-for-fintech-startups/
[7] Page 6 of the IPF Report
[8] Page 13 of the IPF Report
[9] Page 6 of the IPF Report
[10] Page 6 of the IPF Report
[11] Page 4 of the IPF Report
