What SKPAY does

SKPAY, a. s. is a Slovakia-domiciled, NBS-licensed e-Money institution (license decision No. ODB-627/2015-6) and certified Mastercard member that operates a multi-product payments platform within the Slovak market. Its product portfolio centers on prepaid payment cards (SKPAY karta) that function without requiring a bank account, merchant POS terminals accepting VISA and Mastercard, payroll/wage cards (Mzdová karta) for Slovak and foreign employees, business expense cards, and supplementary services including quick deposits and withdrawals (Rýchly vklad/výber), quick invoice payment (Rýchla platba faktúr), electronic vouchers (ePOUKAZ), postal cards, travel services, and Western Union international money transfers. The company is headquartered in Bratislava and reports a headcount of 11-50 employees.

Underlying technology is built around regulated payment infrastructure: SKPAY is certified by Mastercard for card issuance and acceptance and integrates with Western Union for remittances, while operating self-service online portals (mojakarta.skpay.sk for card management and mojapos.skpay.sk for POS terminals) alongside Pay by Square for QR-based bill payments. Distribution is anchored by a strategic partnership with Slovenská pošta (Slovak Post), which provides nationwide physical access points for card acquisition, POS deployment, and cash services.

The business model is transaction-fee based across multiple revenue streams: prepaid card issuance and usage fees, POS terminal transaction fees, Western Union money transfer commissions, and fees on quick deposit/withdrawal services. SKPAY publishes publicly available fee schedules in both Slovak and English. It serves four primary segments — underbanked individuals, employers and HR departments (especially those paying foreign workers), merchants and retail businesses, and international remittance customers — with named enterprise references in telecommunications (Orange, O2, Digi Slovakia), insurance (Allianz, Generali), and media (Tyždeň).

Name

SKPAY

Legal name

SKPAY, a. s.

Website

https://www.spps.sk

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

SKPAY, a.s. is a Slovakia-based NBS-licensed e-Money institution offering prepaid cards, POS terminals, payroll cards, and Western Union remittances. It serves underbanked consumers, employers, merchants, and remittance customers via the Slovak Post branch network.

Ownership category

akta.pro rank

Product category

Payment Services

NAICS

Credit Card Issuing (522210)

akta.pro primary industry

POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)

akta.pro secondary industries

Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Payroll Cards & Salary Prepaid (FSAMANAE)

Keywords

• Prepaid payment cards
• POS terminal services
• Payroll card services
• Money transfer services
• E-money institution

Headquarters

HQ city

Bratislava

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Payment Card Issuance and Usage Fees: SKPAY generates revenue from prepaid card issuance, maintenance fees, and transaction fees for card payments in stores, online purchases, and cash withdrawals. The company offers multiple card types including standard prepaid cards, wage cards, expense cards, and postal cards.
2. POS Terminal Transaction Fees: Revenue is generated from merchants accepting card payments through SKPAY's POS terminals. Fees are charged per transaction processed through the terminal network.
3. Western Union Money Transfer Services: SKPAY serves as a Western Union service provider, generating revenue from international money transfer transactions processed through their network.
4. Quick Deposit and Withdrawal Services: Rýchly vklad (Quick Deposit) and Rýchly výber (Quick Withdrawal) services likely generate transaction fees for cash deposit and withdrawal operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

SKPAY, a.s. is an NBS-licensed e-Money institution that issues prepaid VISA and Mastercard payment cards usable without a bank account, provides POS terminals enabling merchants to accept card payments, offers payroll cards (Mzdová karta) for employer wage disbursement to Slovak and foreign employees, business expense cards, postal cards, and acts as a Western Union service provider for domestic and international money transfers. All products are distributed through the Slovenská pošta (Slovak Post) branch network and self-service online portals (mojakarta.skpay.sk, mojapos.skpay.sk).

Product overview

SKPAY operates as a multi-product payment platform offering a core suite of card-based payment services. The flagship products include POS terminals for merchant card acceptance and the SKPAY prepaid card for card payments without requiring a bank account. Additional offerings include Mzdová karta (payroll card), Výdavková/Firemna karta (business expense card), Western Union money transfers, and supplementary services like quick deposits, quick withdrawals, quick invoice payments, ePOUKAZ vouchers, and postal services through the Slovak Post network.

Differentiator

Problem solved

Functional benefit

Brands

• POS od SKPAY: POS terminals for accepting VISA and Mastercard payment cards
• SKPAY karta
• Mzdová karta SKPAY
• Výdavková karta SKPAY
• Poštová karta
• ePOUKAZ
• Western Union

Products and services

• POS od SKPAY Point-of-sale (POS) terminal service enabling merchants across Slovakia to accept VISA and Mastercard card payments, connected to the SKPAY payment infrastructure and managed through the mojapos.skpay.sk portal.
• SKPAY karta Prepaid VISA/Mastercard payment card enabling payments in physical stores, online purchases, and cash withdrawals without requiring the holder to have a bank account. Targeted at underbanked Slovak consumers and managed via mojakarta.skpay.sk.
• Mzdová karta SKPAY Payroll (wage) card used by Slovak employers to disburse salaries to both Slovak and foreign employees, simplifying wage distribution where employees may lack local bank accounts.
• Výdavková karta SKPAY (Firemná karta) Business expense card enabling Slovak companies to manage corporate expenditures and employee spending, issued by SKPAY.
• Poštová karta Payment card product distributed through the Slovak Post branch network, leveraging the SKPAY and Slovenská pošta partnership for card issuance and access points.
• Western Union (Money Transfer) Money transfer service enabling domestic and international remittances through SKPAY's role as a Western Union service provider in Slovakia.
• ePOUKAZ Electronic voucher service providing digital coupon and voucher management functionality.
• Rýchly vklad Quick cash deposit service enabling SKPAY cardholders to make fast cash deposits into their accounts through the Slovak Post branch network.
• Rýchly výber Quick cash withdrawal service enabling SKPAY cardholders to make fast cash withdrawals through the Slovak Post branch network.
• Rýchla platba faktúr Quick bill payment service allowing SKPAY users to settle invoices using QR codes or payment references via the Pay by Square payment standard.
• Služby cestujúcim Travel-related financial services for travelers, including currency exchange and travel payment services.

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• Národná banka Slovenska (NBS)coreOthers · 1 January 2015SKPAY operates as an e-Money institution under NBS (National Bank of Slovakia) license decision No. ODB-627/2015-6. The NBS is Slovakia's central bank and financial regulator.
• Slovenská pošta (Slovak Post)coreStrategic or Co-development PartnerSKPAY is partnered with Slovenská pošta, combining world payments and innovations with the wide network of Slovak Post. This partnership enables SKPAY to distribute its payment products and services through the extensive Slovak Post branch network across Slovakia, providing physical access points for customers.
• MastercardcoreTechnology or IntegrationSKPAY is a Mastercard member certified for card issuance and acceptance. This partnership enables SKPAY to issue Mastercard-branded prepaid cards and accept Mastercard payments through their POS terminals.
• Western UnioncoreChannel Partner/ Reseller/ DistributorSKPAY is a Western Union service provider, offering international money transfer services to customers through their network, enabling cross-border remittance capabilities.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• SumUp: European POS terminal and merchant acquiring provider serving SMBs across multiple countries. Directly competes with SKPAY's POS od SKPAY offering on payment acceptance infrastructure.
• Edenred: Global leader in prepaid corporate benefits, meal vouchers, and wage/salary card solutions. Directly comparable to SKPAY's Mzdová karta (wage card) and ePOUKAZ voucher products.
• Paysafe: Global e-Money institution offering prepaid cards, payment processing, and acquiring services to consumers and merchants. Closely comparable business model to SKPAY at a much larger international scale.
• Zettle (PayPal): POS terminal and card acceptance provider for SMBs in Europe, owned by PayPal. Comparable product offering and target customer segment to SKPAY's POS terminal business.
• Akcenta: Czech-headquartered payment institution operating across CEE with FX, card, and payment services. Most directly comparable regional peer given overlapping Czech-Slovak market footprint.
• Pluxee (Sodexo Benefits & Rewards): Prepaid card and voucher provider for employee benefits and corporate expense management across Europe. Comparable to SKPAY's prepaid card, expense card, and ePOUKAZ product lines.

Broad incumbents

• Home Credit: CEE-focused consumer finance provider offering cards, POS lending, and payment products across multiple Central European markets. Overlaps with SKPAY's card and acquiring categories at much larger scale.
• Revolut: European e-Money institution offering prepaid cards, payments, and remittances at massive scale. Competes broadly with SKPAY on consumer cards and remittances, but operates across many countries.
• Western Union: Global remittance network whose services SKPAY distributes as an agent. Comparable remittance product but operates as the principal rather than through local agents.

Regional players

• Twisto: Czech fintech offering payment cards and BNPL services. Comparable card-based offering but focused on the Czech market rather than Slovakia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/skpay

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SKPAY