Two licences of an electronic money institution issued
The Board of the Bank of Lithuania issued licences of an electronic money institution for two companies, which grant the right to issue electronic money and provide payment services.
UAB Corporate Services, which was issued such a licence, intends to open electronic money accounts on a devised platform, issue electronic money, and provide the electronic purse, payment transaction, currency exchange services, as well as issue payment cards.
Holding a licence of an electronic money institution, Wallter, UAB plans to provide the electronic money issue and payment services for small and medium-sized enterprises, and natural persons. This institution’s main services will be money remittance, prepaid cards and multicurrency electronic purse.
Creating a favourable regulatory and supervisory environment for the provision of financial services, also promoting financial sector innovations is one of the Bank of Lithuania’s strategic directions for 2017–2020. Together with other domestic institutions, the Bank of Lithuania aims at our country becoming a FinTech centre in the Nordic–Baltic region.