KIP and MIP: access to payment systems and instant transfers in euros

On 28 March 2026 the Act of 23 January 2026 amending certain acts related to the functioning of the financial market and the protection of its participants (Journal of Laws of 2026, item 340) entered into force; as we reported in March. This update explains what the changes mean in practice for national payment institutions (KIP) and small payment institutions (SPI) and what to do before 9 January 2027, when the instant euro transfer provisions take effect.

Payment systems for KIP and MIP – new opportunities and requirements

The amendment implements Article 35a of PSD2 and prepares the Polish market for Regulation (EU) 2024/886 (the Instant Payments Regulation, IPR).

Already in force:

• National payment institutions and e-money institutions may act as direct participants in payment systems, including systems designated under the Settlement Finality Act.

• Participation requires the documentation set out in the new Article 9a of the Payment Services Act: a description of client fund safeguarding measures (with a template account agreement and a compliance statement), a description of governance and internal controls, a description of ICT arrangements, and a winding-up plan. On request, the Polish Financial Supervision Authority (KNF) issues an opinion confirming compliance.

• A new safeguarding option: a dedicated account with a Member State central bank. The National Bank of Poland (NBP) may maintain accounts for payment institutions with the consent of its President.

• SPIs do not become participants, but gain a statutory guarantee of non-discriminatory indirect access: a participant that lets one licensed or registered provider submit transfer orders through the system must, on request, offer the same to others.

From 9 January 2027 the KNF will supervise compliance with Articles 5a to 5d of Regulation 260/2012 (as amended by the IPR) and apply a new sanctions regime.

Who is covered by the regulations on instant transfers in euros?

National payment institutions, SPIs, e-money institutions and other providers listed in Article 4(2)(1) to (4), (6), (9) and (11) of the Payment Services Act, including banks. The IPR obligations (euro transfers within 10 seconds, 24/7, fees no higher than for standard transfers, verification of payee) apply to every provider offering euro credit transfers, SPIs included.

Preparing KIP and MIP for instant transfers in euros

• A payment institution planning direct participation: prepare the Article 9a documentation and consider requesting a KNF opinion before approaching the system operator.
• Payment institutions: assess an NBP account as an alternative to safeguarding with commercial banks and an answer to de-risking.
• SPIs: review agreements with your sponsoring bank or intermediary participant and use the equal access guarantee in negotiations.
• Providers offering euro transfers: run an IPR gap analysis, with implementation before 9 January 2027 (receiving) and 9 July 2027 (sending).
• Management boards: allocate and document responsibility for instant payments, as sanctions will target the individuals directly responsible.

KNF Penalties for Instant Payment Breaches

From 2027 the KNF may fine a provider up to 10% of net revenues from payment services (within groups, up to 10% of the revenue shown in the consolidated statements of the ultimate parent) and fine the manager directly responsible for a breach up to PLN 21,500,000. Incomplete Article 9a documentation will in turn block access to system participation.

Prepare your institution for the new IPR requirements

We support KIP, MIP and other payment institutions in preparing the documentation required under Article 9a, applications for opinions from the Polish Financial Supervision Authority (KNF), and compliance audits against the IPR requirements. Contact our team if you wish to prepare your institution for the new obligations and implement the required solutions before the deadlines set out in the IPR.

You can also find more information in our guides: Small Payment Institution and FinTech in Poland.