LEW Group SA is a National Paying Authority!

LEW Group SA has obtained the authorization of the Financial Supervision Commission to operate as the National Paying Authority. This decision, taken unanimously at the meeting of 23 April 2013 means that the Group can expand its activities and offer additional services. Such permit confirms the company’s highest standards of safety and financial stability.

With the National Payment Authority license, LEW Group SA will be able to operate throughout the European Economic Area, that is in the countries of the European Union plus Iceland, Liechtenstein and Norway. Its functioning both in Poland and abroad will be subjected to the supervision of the Financial Supervision Authority.

– Granting the status of the National Paying Authority will allow us to expand our range of services and setting entirely new ways of development, including after passing the appropriate procedure, membership at the Visa and MasterCard. We will be able to offer new payment tool enriching our offer, enabling for example cash withdrawals directly from the customer’s account at the point of sales. This decision also allows us to issue payment instruments, including cards – says Andrzej Basiak, CEO and major shareholder of the company.

The rules of the paying authority was clarified in the Act on payment services from 19th of August 2011. This Act transposed  the provisions of Directive 2007/64 / EC of the European Parliament and of the Council of 13 November 2007. (Ie. The PSD – Payment Services Directive)on the ground of Polish law. The Directive lays down the rules for payment services in the European Economic Area. So far, only a few companies in Poland received the status of a National Paying Authority.