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Polish fintech PayPo has been licensed to issue Visa cards

With its own PayPo cards, issued in virtual form, the company will be able to offer deferred payments at all stationary shops accepting Visa cards

Polish fintech PayPo, which specialises in deferred payments, has announced that it has been granted the so-called Principal Member licence of the Visa organisation. This will allow the Polish company to issue cards with the Visa logo, and with them make deferred payments available to customers in all stationary shops accepting Visa cards. PayPo intends to offer virtual cards, available through a mobile app.

See also: Autopay will be the only regional provider of motorway vignettes in Austria

The fact that PayPo wants to issue payment cards has been known since at least September 2021. At the time, PayPo CEO Radosław Nawrocki mentioned such an intention during one of the Cashless Breakfast events. He later repeated the announcement in an interview with 'Puls Biznesu' daily. Originally, the cards were to be offered by PayPo as early as the beginning of 2022. In the interview with 'Puls', it was reported that the date had been postponed to Q2 2023. Today's press release, however, shows that the launch of the new PayPo cards could take place by the end of this year.

Deferred payment is a service that is growing in popularity in Poland. It involves ordering a product and paying for it after a certain period of time. Usually, if the payment is made within 30 days of the order, no additional costs are incurred. Deferred payments are used primarily in e-commerce, but are also being transferred to stationary shops. In Poland, the Russian-originated fintech Mokka specialised in this. However, it recently quit its operations in our country.

See also: New record. Polish bank customers have added more than 11.2 million cards to services such as Apple Pay and Google Pay

PayPo is also already working with its first partners in this area. With the introduction of the Visa payment card, the fintech will not need to have any agreements with traditional shop owners to offer deferred payments to their customers. "Fintechs are an example of an innovative operation that is close to the customer and their unique needs first and foremost. We have already prospered in this sector for many years and have played an important role in shaping the environment we are familiar with today. By providing access to our technology, global network, specialised programmes and expert advice, we aim to develop the most promising companies in this area," says Adrian Kurowski, CEO of Visa in Poland.


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