Mastercard joins Polski Standard Płatności and becomes a participant of the BLIK system

Rymarz Zdort advised Polski Standard Płatności sp. z o.o. (“PSP”), the operator of the BLIK system, in connection with the accession of Mastercard to PSP as an investor and the start of commercial collaboration between Mastercard and PSP. As part of the cooperation, it is planned that contactless technology will be made available to BLIK users globally at terminals that accept contactless payments using Mastercard-branded products.

Before the deal, the shares in PSP were held by six banks: Alior Bank, Bank Millennium, Santander Bank Polska, ING Bank Śląski, mBank and PKO Bank Polski. After the conditions indicated in the contract were fulfilled, Mastercard purchased newly-issued shares in PSP and became its seventh shareholder authorised to make decisions regarding the Company on the same terms as the other shareholders.

BLIK is a Polish mobile payment system that enables mobile banking application users to make payments at points of sale and for online purchases, to make cash withdrawals and deposits at ATMs, and to make instant mobile money transfers.

From the Rymarz Zdort side, the transaction was supervised by the managing partner Pawel Zdort, and the team comprised Katarzyna Lukaszewicz (counsel) and Aleksander Jakubisiak (associate). Iwona Her (partner) and Irmina Trybalska (counsel) were in charge of antimonopoly advice relating to the transaction.