Two electronic money institution licences issued
The Board of the Bank of Lithuania granted electronic money institution licences to Sezzle Lithuania, UAB andUAB “Lux International Payment System”, authorising them to issue electronic money and provide payment services set forth in the Republic of Lithuania Law on Payments.
Sezzle Lithuania, UAB will expand the operations of the US-based company Sezzle Inc. in Europe. This institution intends to provide electronic money and payment services to merchants offering their goods on the Sezzle platform and their buyers. The holding company Sezzle Holdings III B.V., which is owned by Sezzle Inc., holds 100% of shares in this institution.
UAB „Lux International Payment System“ intends to issue electronic money, provide services that enable cash withdrawal from a payment account and execute payment transactions, including the transfer of funds to a payment account for a payment service user’s payment service provider or another provider. The institution also plans to issue payment cards and provide currency exchange services. In addition to activities in Lithuania, it also plans to expand its business in other European Union states. This institution is owned by a Swedish citizen.