In 2009 the National Bank of Poland approved SkyCash Poland S.A. as the operator of the system for authorisation and settlement of mobile transactions SkyCash, pursuant to Section 16 Par. 1 of the Act of 24 August 2001 on settlement finality in payment and settlement systems and on supervision of such systems, regarding Section 67 of the Electronic Payment Instruments Act of 12 September 2002.

SkyCash as an acquirer

SkyCash Poland S.A. has been officially recognized as an acquirer. Therefore, we are legally obliged to satisfy a number of requirements set out in the Electronic Payment Instruments Act, including:

• business activity conducted as a joint-stock company
• share capital equal to at least 1m euros
• shares in the company acquired solely for contribution in money

System for authorisations and settlements

SkyCash Poland S.A. is, as stipulated in  the relevant act, supervised by the National Bank of Poland and obliged to produce on an on-going basis the following:

• current status of financial settlements
• number of acceptors
• number of conducted transactions
• register of attempted and executed transactions aimed at infringing or circumventing legal provisions or fair trade rules.