The mPay service will soon disappear from the market. The Polish Financial Supervision Authority withdrew consent to provide services

The Polish Financial Supervision Authority has withdrawn mPay’s authorization to provide services. The decision is immediately enforceable. Settlements with customers are due by September 30.

mPay is a Polish mobile application and telephone payment system that allows you to conveniently pay for various types of services, including insurance, as well as make instant transfers and obtain loans. It is the longest operating mobile phone payment system on the Polish market. What happened suddenly?

mPay is losing the market. The reason is late settlements

After years of success and stable development, in 2023, Kraków temporarily suspended the sale of public transport tickets via the mPay application due to repeated problems with untimely settlement. Because the company still did not fulfill the contract, in 2025 the Public Transport Authority in Krakow, Koleje Małopolskie and the Roads Authority of the City of Krakow resigned from its services.

At the end of 2025, the contract with mPay was terminated by, among others: Gdańsk, Warsaw, Cieszyn, Wieluń, Głogów, Konin, Wrocław and Bielsko-Biała. The reason for terminating the contract was also the lack of timely payments and unpaid debts.

The company avoided explanations, but referred to the difficult situation of mobile payment operators, who have very low sales margins and have to bear the costs of card or Blik servicing – with a commission often exceeding the margin itself.

Fintech has three months for settlement. The decision of the Polish Financial Supervision Authority influenced the value of the shares

In justification of its decision, the Polish Financial Supervision Authority stated that: “the company does not ensure prudent and stable management of its payment services activities, and therefore there are grounds for withdrawing its authorization to provide payment services as a domestic payment institution.” The supervisor took this step due to the failure to meet prudential requirements that are key to operating as a licensed payment service provider.

By September 30, fintech is to settle accounts and terminate contracts with existing contractors and users of payment services.

When the KNF decision was announced, the value of the company’s shares on the WSE dropped from PLN 22 per share to PLN 12, i.e. almost by half. The company has been listed on NewConnect since 2014. Grupa Lew has been the strategic investor of mPay since 2013.