CMS advises Agricover Payments on obtaining NBR authorisation as a payment institution

CMS has advised Agricover Group, on the structuring and licensing of Agricover Payments as a payment institution authorised by the National Bank of Romania (NBR). Agricover Payments has become the first Agri-FinTech authorised payment institution in Romania, dedicated to farmers.

Agricover Payments is part of the Agricover Group, one of Romania’s leading agribusiness groups serving over 11,000 farmers nationwide, dedicated to developing integrated digital financial solutions for farmers, in a pioneering approach for Romania’s agricultural and digital financial ecosystem. Agricover Payments is authorised to being able to offer payment accounts, issue cards, execute money transfers and enable cash withdrawals, all through an integrated digital experience.

CMS multidisciplinary team assisted Agricover throughout the entire authorisation process, combining our local and international expertise across corporate governance, regulatory structuring, financial services regulation, risk management, anti-money laundering, outsourcing, digital operational resilience. In terms of scope and technical complexity, this project ranks among the most significant regulatory advisory mandates in Romania’s payments and agri-fintech sectors.

Cristina Reichmann, Partner, CMS Romania, comments: “The authorisation of Agricover Payments as a payment institution by the NBR is a landmark moment for the Romanian payments and agribusiness sectors.”

Adina Nănescu, Counsel, CMS Romania, adds: “The Agricover Payments project was a remarkable professional experience, requiring a multidisciplinary approach and careful coordination of all regulatory aspects.”

Mircea Ciută, Senior Associate, CMS Romania, adds: “It is a privilege to have contributed to a project with such a high degree of regulatory complexity and a significant impact on Romania’s financial market.”

The CMS team was led by Cristina Reichmann. The core team included Adina Nănescu and Mircea Ciută (Finance).