Resolutions of the Board of the Bank of Lithuania
Two electronic money institution licences issued; licence of a payment institution issued
Two electronic money institution licences issued
The Board of the Bank of Lithuania granted electronic money institution licences to Nayax Europe UAB and BW SYSTEM OU, UAB, authorising them to issue electronic money and provide payment services set forth in the Republic of Lithuania Law on Payments.
Nayax Europe UAB had a payment institution licence, authorising it to provide money remittance services, but requested an electronic money institution licence to be issued instead, in order to be able to issue and redeem electronic money and provide more payment services, including cash withdrawal, credit transfers, issue of payment instruments and payment processing. The institution’s activity will be related to the services provided by Nayax Ltd (Israel), its direct shareholder holding 100% of shares, i.e. development and market delivery of point-of-sale systems for non-cash settlements without their physical maintenance (for example, vending machines). The institution will offer electronic money and payment services for the entire contactless settlement system (customers and operators).
After obtaining the licence, BW SYSTEM OU, UAB intends to issue and redeem electronic money and provide cash withdrawal, credit and debit transfer, payment instruments issue and payment processing services. Its intended primary market will be related to the trade between the European Union and Japan. The institution’s direct shareholder is a Japanese citizen.
Licence of a payment institution issued
The Bank of Lithuania granted Autopay Europe, UAB a payment institution licence, authorising it to provide payment initiation and account information services.
The institution intends to provide its services in Lithuania and the European Union, targeting the German, Lithuanian, Latvian, Estonian, Polish, Spanish and Czech markets. The sole shareholder of the institution is Blue Media Spolka Akcyjna, a payment institution licensed in Poland.