Bank of Lithuania
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Two new licences issued, one – supplemented

The Board of the Bank of Lithuania issued an electronic money institution licence to UAB SONECT Europe. The company plans to start activities in Lithuania and EU and offer its clients the possibility to deposit money to or withdraw them from their payment account or digital wallet via mobile app and digital ATM. UAB SONECT Europe intends to join the CENTROlink system managed by the Bank of Lithuania and use it to make SEPA payments. The only beneficial owner of the company is Sonect AG, a Swiss company established in 2016. The newly-licenced company has three indirect shareholders – natural persons owning more than 10% of Sonect AG shares.

The Board of the Bank of Lithuania granted a payment institution license to UAB Changer4u, granting it the right to perform money remittances and provide an additional service – currency exchange. UAB Changer4u intends to offer the opportunity for its clients to transfer e-currency between their accounts held with different electronic money institutions or banks. Also, clients making such transfers will be able to easily exchange currency. The company has two shareholders, who are Lithuanian citizens. 

The Board of the Bank of Lithuania decided to supplement the electronic money institution licence of UAB IBS Lithuania, authorising it to provide more services established in the Law on Payments. The company is increasing its scope of services and intends to offer digital wallets, such as those offered by China’s WeChat Pay, Alipay, etc. in Lithuania. Having its licence supplemented, IBS Lithuania will offer the possibility for internet merchants to accept payments from Chinese digital wallets, issue debit cards, allow its clients to transfer funds to and receive them from China and deposit cash to their account with the company.