Fizen partners with mPay - Polish biggest mobile payment provider

mPay announced that it had signed a letter of intent with Fizen, a company from Łódź. The document concerns the provision of technology to the first entity to operate two services, the operation of which is enabled by the PSD II directive. These are AIS (Account Information Service) and PIS (Payment Initiation Service).

In the near future, the companies will negotiate the terms of the future agreement, including the date and scope of its validity. The parties want it to be concluded within two months of the entry into force of the letter of intent. At the same time, the companies note that the deadline may change if the agreement is eligible for submission to the Polish Financial Supervision Authority.

In the spring of this year Fizen fintech was included in the list of entities providing the service of access to information on bank accounts (AIS), which is run by the Polish Financial Supervision Authority. The second of these services, PIS, concerns payment initiation. Fizen, as an entity providing technological solutions, will enable mPay to implement these tools and provide them on its own behalf.

About mPay

mPay S.A. has developed and develops mobile payment services that allow for the execution and settlement of payments made using a mobile phone (so-called m-payments). The main areas of the company's activity include:

  • accepting and settling fees for public transport tickets
  • accepting and settling fees for parking users' vehicles in paid parking zones in cities serviced by the company
  • accepting and settling fees for top-ups of GSM phones

An electronic wallet is a prepaid solution. The account may be credited by the user with the funds from which transactions are settled. The e-purse account can be topped up by connecting a payment card to the wallet, using online banking or by making a traditional transfer at a bank or post office. mPay has 1.1M users on the Polish market.