Two e-money institution licences issued in Lithuania

The Board of the Bank of Lithuania decided to issue licenses of an electronic money institution to Galperin, UAB, and Verified Payments, UAB.

The Board of the Bank of Lithuania decided to issue licenses of an electronic money institution to Galperin, UAB, and Verified Payments, UAB.

These licences grant the companies the right to issue electronic money, carry out payment transactions, including where the funds to a payment services user have been granted using a credit line, also the right to issue payment instruments.

Creating a favourable regulatory and supervisory environment for the financial services provision activity and promoting financial sector innovations is one of the strategic directions for Bank of Lithuania activities in 2017–2020. Together with other domestic institutions, the Bank of Lithuania aims at Lithuania becoming a FinTech centre in the Nordic-Baltic region.