Agricover Payments, authorized by the NBR as a payment institution, becomes Romania’s 15th entity of this type

Agricover Payments has been authorized by the National Bank of Romania as a payment institution, becoming the 15th entity of this type authorized nationwide. The decision marks a new stage in the development of digital financial services dedicated to Romanian farmers.

The company is part of the Agricover Group and positions itself as an Agri-FinTech company developing integrated financial solutions for the agricultural sector. The authorization allows it to operate within a framework regulated and supervised by the central bank.

Agricover Payments will be able to open and manage payment accounts, issue cards, make money transfers and enable cash withdrawals through an integrated digital experience. Customer funds are protected through mechanisms provided for under Romanian and European legislation.

“​​The authorization of Agricover Payments expands the Group’s financial capabilities into a new and important area,” said Andrei Vasile, CEO of Agricover Payments. He noted that the new status provides the framework necessary to develop specialized digital financial solutions for farmers.

The company intends to gradually expand its range of services and operating area, depending on farmers’ needs and the evolution of the Agricover financial ecosystem.}