Bank of Lithuania

National Payments Strategy

By 2020 we seek to make innovative payment methods available to Lithuanian residents and enterprises, thus increasing the competitiveness in the payments market and involvement of payment service users. Such an ambitious payments market development goal is established in the draft National Payments Strategy.

We have prepared a draft Strategy, establishing three strategic directions:

  1. Development of infrastructure that enables extensive use of contactless and instant payments.
  2. Increase of payment service users’ involvement in and their impact on decisions related to payment services available on the market.
  3. Building payments service user trust in electronic payments and encouraging using them. Having implemented this, we could achieve the Strategy’s main goal: to ensure that by 2020 contactless, instant and closely-integrated into business models electronic payments, which meet the needs of consumers and economic entities, are made available to Lithuanian residents and become widely used.

Having implemented this, we could achieve the Strategy’s main goal: to ensure that by 2020 contactless, instant and closely-integrated into business models electronic payments, which meet the needs of consumers and economic entities, are made available to Lithuanian residents and become widely used. Having in mind the proposals of the Strategy, the instant payments infrastructure has already been running and the Payments Council has been established in Lithuania since November 2017.

The Bank of Lithuania submitted the draft Strategy for public consultation, which lasted until 30 September 2016. The review of the public consultation results is provided below.

Last update: 22-02-2018