Polish lender Bank Pekao is acquiring a 38.33% stake in Krajowy Integrator Płatności, operators of the Tpay system.

Approval of the deal, agreed originally last December, is now confirmed by the Polish Financial Supervision Authority (KNF).

The KNF approval means that Tpay and Bank Pekao will accelerate plans to create a comprehensive ecosystem of payment services.

Bank Pekao ranks the second-largest bank by assets in Poland, behind PKO and ahead of third placed Santander.

To illustrate the importance of the deal, this agreement is the first such collaboration in the Polish market.

Tpay is based in Poznan and was founded by graduates of Poznan University of Technology 10 years ago. Its payment system incorporates e-transfers, payment cards, instalment payments, QR codes and the local BLIK system. Moreover, Tpay enables full automation of payment acceptance and immediate execution of transactions.

“I am very happy that we will provide our clients with long-term support from a stable and trusted partner. Thanks to this cooperation, we will introduce further advanced and comprehensive payment solutions,” says Paweł Działak, president, co-founder of Tpay.

They will provide high-quality services in ​​payment acceptance and meet the current needs of business partners and end customers.”

Tpay and Bank Pekao future plans

The two parties say that they will roll out an analytical tool to help retailers. So, businesses will receive access to an online payment gateway collecting data on online and offline transactions.

Pekao’s e-commerce will also include cross-selling of acquiring services in the field of payment terminals and an offer of deferred payments and cash loans for individual customers making online payments. Meantime, Tpay’s existing and new clients will receive banking offers from Pekao. 

Leszek Skiba, President the Management Board of Bank Pekao adds: “We want to strengthen our presence on the e-commerce market. We will provide deferred payments and launch an offer of cash loans for customers shopping online. We will also offer services for e-shops and online platforms, enabling sale in instalments.

“Together with the operator of the Tpay system, we will implement a payment gateway for e-commerce customers. Together with our partners, we want to set the direction for further development of digital payments.