Bank of Lithuania

Strategic objectives

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 was established in the draft National Payments Strategy.

Three strategic directions were set:

  • Development of infrastructure that enables extensive use of contactless and instant payments.
  • Increase of payment service users’ involvement in and their impact on decisions related to payment services available on the market.
  • Building payment service user trust in electronic payments and encouraging their use. Having implemented this, we could achieve the Strategy’s main goal: to ensure that 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. During this period the Payments Council has analysed and provided recommendations on five issues.

The review of the public consultation results is provided below.

Last update: 07-06-2021