Amendment to the Payment Services Act: SEPA Instant and New Obligations for Payment Service Providers

The amendment to the Act of 19 August 2011 on payment services (Journal of Laws of 2026, item 623, consolidated text) introduces significant changes forpayment service providers, payment institutions and electronic money institutions operating in Poland. The new regulations primarily concern access to payment systems, protection of clients’ funds, instant euro payments under SEPA Instant, as well as new reporting obligations and sanctions imposed by the Polish Financial Supervision Authority (KNF).

Access to Payment Systems for Payment Institutions and Electronic Money Institutions

The amendment introduces key changes to the rules governing access to payment systems, with the overarching aim of enabling payment institutions and electronic money institutions to compete with banks on fair terms. The amended Article 9 of the Act imposes an obligation on participants in designated payment systems to treat payment service providers equally. This means that if a participant allows a selected provider that is not a participant in the system to transmit transfer orders, it must provide the same opportunity to other eligible entities upon request.

Access itself must be granted on the basis of objective, proportionate and non-discriminatory criteria. In addition, where an access request is rejected, the system participant is now under a statutory obligation to provide the interested provider with a written justification of the refusal.

To reinforce these principles, provisions that previously allowed broader exclusions from the application of equal access rules in certain systems have also been repealed.

New Documentation and Operational Obligations for Payment Institutions

At the same time, the newly introduced Article 9a imposes strict documentation and operational obligations on payment institutions and electronic money institutions participating in, or applying to participate in, payment systems. These entities are required to maintain and regularly update a description of the measures taken to protect users’ funds.

Where these funds are deposited in accounts or invested, the documentation must include an investment policy guaranteeing the liquidity and safety of assets and a description of decision-making processes ensuring that these funds are protected against claims by other creditors, particularly in the event of insolvency.

Another important requirement is to prepare a detailed description of governance rules and internal control mechanisms, covering decision-making procedures, risk management and accounting processes. Institutions must also describe their arrangements for the use of information and communication technology (ICT) services, ensuring full compliance with EU Regulation 2022/2554 (DORA).

The new requirements are complemented by an obligation to develop a wind-down plan in the event of insolvency. The plan must be precisely tailored to the institution’s business model and describe measures ensuring the execution of pending transactions and the orderly termination of existing contracts.

Protection of Clients’ Funds by Payment Institutions – New Rules on Depositing Funds

The amendment modernises the rules for protecting funds received from users. As part of the changes to Articles 78 and 132n, the list of places where domestic institutions may deposit protected funds has been expanded.

The new regulations allow funds to be deposited in accounts held with central banks of EU Member States, provided that the relevant central bank gives its consent. This change follows directly from the update to the PSD2 Directive.

SEPA Instant from 2027 – New Reporting Obligations and Sanctions for Payment Service Providers

A number of significant provisions will enter into force at the beginning of 2027, focusing on the execution of instant euro payments in accordance with the SEPA Regulation. The statutory glossary will include definitions of “instant credit transfer in euro” and “cross-border payment transaction.”

Reporting to the KNF, Sanctions and Management Board Liability for SEPA Instant Breaches

From 9 January 2027, the following will apply:

• New reporting obligations (Article 6f)

Providers will be required to report annually to the Polish Financial Supervision Authority (KNF) data on the level of transfer fees, including instant transfers, and on the percentage of rejected transactions resulting from the application of EU financial sanctions, i.e. targeted restrictive measures.

• Stricter sanctions regime (Article 14)

The KNF will be empowered to impose severe penalties for breaches of provisions concerning instant payments. A provider may face a penalty of up to 10% of total net revenue shown in its most recent audited financial statements.

• Personal liability of management boards (Article 34c)

Managers directly responsible for breaches of SEPA transfer provisions may be subject to a fine of up to PLN 21,500,000.

Basic Payment Account under the Payment Services Act – Changes Following the PAD Directive

The amendment also clarifies practical aspects of applying the PAD Directive to basic payment accounts. Article 59ic introduces an exception limiting the ability to refuse to open an account where a consumer already holds a similar product but credibly demonstrates that they have been informed of its forthcoming closure.

The statutory cross-references in the account switching procedure have also been corrected to remove interpretative issues when closing accounts with the transferring provider.

Need support in implementing changes to the Payment Services Act?

The amendment to the Payment Services Act means new obligations for payment service providers, payment institutions and electronic money institutions- from access to payment systems and protection of clients’ funds to SEPA Instant, reporting to the KNF and sanctions risk.

Contact our FinTech team to assess the impact of the new regulations on your business model, compliance procedures and organisational readiness for the changes entering into force from 2027.