FAQ

Question
Authorisation. Credit and payments market
	Agents of electronic money and payment institutions and electronic money distributors
	What is the key difference between an EMI or PI agent and electronic money distributor?
	Does an electronic money distributor to be engaged by an EMI need to be included in the Public List of Electronic Money Institutions?
	When filing an application with the Bank of Lithuania with regard to an agent to be engaged by an EMI or a PI, does information on the agent’s management have to be provided?
	Which subordinate legislation of the Republic of Lithuania regulates the procedure for inclusion of EMI and PI agents into the Public List of Electronic Money and Payment Institutions, for notifications to foreign supervisory authorities of the intention to issue, distribute and redeem electronic money and to provide payment services in other Member States?
	What are the preparatory actions to be taken by an EMI or a PI before applying for inclusion of an agent in the Public List of Electronic Money and Payment Institutions?
	What are the preparatory actions to be taken by an EMI before engaging an electronic money distributor?
	Who is responsible for payment services provided through agents or for activities of electronic money distributors?
	What actions should be taken by an EMI or PI if it finds that an agent or an electronic money distributor is acting on behalf of the institution without complying with legislative requirements?
	In what way should consumers be informed that payment services are provided through agents or that electronic money distributors are engaged?
	What requirements for customer information are applicable to EMI or PI when activities are carried out through agents or electronic money distributors?
	What actions must be taken by an EMI or PI when it ceases to operate through an agent and wishes to exclude the agent from the Public List of Electronic Money and Payment Institutions, or when it ceases to operate through an electronic money distributor?