mPay exploring introduction of financial services in cooperation with UniCredit
mPay has signed a mutual non-disclosure agreement (NDA) with UniCredit and Vodeno to enable advanced analyses and the exchange of information needed to assess potential cooperation in financial services. According to the company, the NDA is the first step in evaluating a partnership based on the Banking as a Service (BaaS) model. If implemented, such cooperation could allow mPay to expand its business by offering selected financial services using its partner’s banking infrastructure. Management noted that a BaaS partnership could lead to changes in mPay’s current strategy, particularly in financial services development, and significantly scale up operations through integration with UniCredit’s systems, including providing bank accounts to mPay customers.
Founded in 2003, mPay is Poland’s longest-operating mobile payment system and has been listed on NewConnect since 2014.
