Poland, which is a member of the EU since 2004, must be guided by the Second EU Directive and the requirements of GDPR Regulation when considering the e-money and payment systems issue. At the national level, the financial regulator (the Financial Supervision Commission) has not established permissive or prohibitive conditions, although, in general, the authorities treat the electronic money negatively. Operators and companies planning to deploy payment systems in Poland need to remember that the country considers crypto funds to be dangerous, and financial and credit institutions selectively close accounts of business related to crypto platforms.
The Republic is a part of the European business space, therefore operators of payment systems and business bound with electronic money should take into account the requirements of the EU Directive. PS are created as unified EMI, in the form of a legal entity with a "physical" office in the country. To establish a company, you will need to have a unique name, electronic signature, PESEL numbers for management and a contact person in the country. It is necessary to select activities from the PKD classifier, obtain tax and statistical numbers (NIP, REGON) for the company and enter data into KRS register. You will need to have a corporate account, an accountant to keep records and a seal.
If the payment system operating in Poland accounts in Euros, uses the data of physical persons - EU residents or at least one EU language, it is subject to GDPR regulation on the personal information protection (DPO). A processor processing private data must maintain a written register of operations, comply with the requirements of national legislation on DPO. It is necessary to develop a mechanism for notification of users and obtaining their consent, implement technical instruments of protection and, in some cases, assign a representative/inspector for personal data.
To comply with the payment system to the Second EU Directive it is required:
The list of requirements can be extended, so when creating a payment system (PS), the operator needs to have a professional support.
"Prifinance" consulting company helps to legally and correctly introduce digital instruments and integrate business into the global system for financial flows processing. With us, the customer saves time for a creation and legalization of the payment system, gets rid of bureaucratic hassle. We will:
Applying to "Prifinance" the customer shall receive the full range of consultations and support. We will help to create a service for digital payments and develop a business on a global level.