Bank of Lithuania
2012-03-06

The Board of the Bank of Lithuania decided to issue a payment institution licence to AB Lietuvos paštas, which grants a right to provide payment services listed in Paragraphs 1, 2, 3, 5 and 6 of Article 5 of the Republic of Lithuania Law on Payments.

These include the provision of services that create conditions to pay cash into a payment account and all operations related to the management of the payment account; the provision of services that create conditions to take cash from the payment account and all operations related to the management of the payment account; payment operations, including the transfer of the funds available on the payment account opened with the payment service user’s payment services provider or another payment services provider: direct debit transfers, including one-off direct debit transfers, payment operations using a payment card or other similar means, and/or credit transfers, including regular transfers; issue and/or acceptance of the means of payment; money remittances.

AB Lietuvos paštas informed the Bank of Lithuania that, in addition to the provision of payment services, it intends to provide foreign exchange services related to the said activity and to perform other activities that are not related to the provision of payment services.