On March 27th 2018 the Polish Financial Supervision Authority unanimously extended the scope of the authorization to provide payment services as a domestic payment institution by our Client – Conotoxia Sp. z o.o. by adding to payment services, among other things, issuing payment instruments (article 3 (1) point 4 of the Payment Services Act) and acquiring (article 3 (1) point 5 of the Payment Services Act). The decision was based on a previously obtained positive opinion of the Polish National Bank. In both proceedings, before the Polish Financial Supervision Authority and before the Polish National Bank, the Company was represented by our Law Firm’s lawyers – mec. Sławomir Jakszuk and dr Joanna Róg. Our Law Office also represented the Company in 2015 in proceeding concerning obtaining a permission to provide payment services as a national payment institution.

Conotoxia Sp. z o.o. is a company from the Cinkciarz.pl group, which includes, among others, a company offering currency exchange. Conotoxia Sp. z o.o. as a foreign brand Cinkciarz.pl offers financial services with remittances in the European Economic Area. The Company is a participant of SWIFT, EPC (European Payments Council) and NACHA (The Electronic Payments Association). Extension of the permission will allow our Client to offer completely new payment services.