The Lithuanian-born e-payment network Paysera is expanding to Spain, where the company Paysera España was established in the city of Valencia. Paysera, the payment processor of the majority of Baltic e-shops, is starting its business in Spain with local partners.
© Bendrovės nuotr.

Financial services and a trademark developed in Lithuania are brought to Spain by the owners of the gold retailer Quick Gold – Spanish businessmen who are starting to provide Paysera services under a joint activity agreement. Quick Gold has a gold trade network stretching through more than 20 cities in Spain and consisting of almost 40 points of sale.

“We, as a fintech company, already have clients in Spain. However, the start of our physical business will enhance our position in one of the largest economies in Europe, where, just like in other countries, e-commerce and e-payments are rapidly growing. Thus, this is an excellent time for our start in Spain together with local partners who know the needs, habits, and culture of the local businesses and residents best,” says Kostas Noreika, the main shareholder of Paysera LT.

According to Rodrigo Fernández, the head of Paysera España, at first, Paysera España will provide digital financial services, and, once the pandemic is over, Quick Gold client service centres will also offer some of the live services of Paysera: collection of Paysera Visa cards, client registration, withdrawal of cash, and gold trading.

“We are glad to have been able to attract a reliable and profitable financial partner to Spain, who has been in the e-payment business for 17 years and knows well how to operate in a competitive environment, which is exactly what the Spanish market is. For Spanish businesses, and first of all e-shops, we will offer convenient and competitive processing of online payments. Moreover, we believe that local clients will be interested in the app for managing their personal and business finances, low rates for international transfers, and the self-service event ticketing system,” says R. Fernández.

© Bendrovės nuotr.

The main activity of Paysera is the processing of payments in online shops. In 2020, over 12,000 e-shops collected payments for online purchases through the company’s system and buyers spent over EUR 580 million when shopping in them. The payment network also provides a current account and money transfer services as an alternative to banks almost globally: EUR 4,7 billion was transferred through the company’s system and app last year. Clients of the fintech company use contactless Paysera Visa payment cards that can be linked with smart devices and used for paying via Google Pay, Apple Pay, and Samsung Pay.

According to the data of the Bank of Lithuania, at the end of the third quarter of 2020, Paysera was the largest electronic money institution (EMI) in Lithuania, its home market, according to the number of payment transactions.

In other countries, the Paysera network expands according to the principle of joint activity together with local partners. The expansion of the network is coordinated through the company Paysera LTD registered in the United Kingdom. Companies of the network also operate in Latvia, Estonia, Romania, Bulgaria, Kosovo, Albania, and Ukraine. Paysera is focusing on its expansion in the Balkans and is searching for partners in Turkey, South America, and other countries.

It is forbidden to copy the text of this publication without a written permission from DELFI.

OECD: Lithuania needs to boost municipal borrowing capacity

Lithuania needs to increase the borrowing capacity of its municipalities for public investment to...

5 smart city solutions from KTU students for Kaunas

Smart waste collection systems, advanced street lighting, mobile applications informing on the traffic...

Avia Solutions Group calls block on its investment in Vilnius "witch hunt"

Avia Solutions Group, an aviation business group, says it is disappointed with the recent decision by...

Fertility clinic is suspected of having hidden EUR 1 mln in revenue

A fertility clinic operating in Lithuania's three largest cities is suspected of having hidden revenue...

Some 169 people turn to police over stolen CityBee data

Some 169 people have turned to Lithuania's police over the theft of their personal information from...

Top news

Number of bribe-givers down, many believe bribes solve problems

The number of people who have given a bribe over the past year has gone down in Lithuania, but there's...

State-level school graduation exams to begin on June 7

State-level school graduation exams in Lithuania will begin on June 7 this year, Education, Science...

DNA bank of partisans' relatives planned in Lithuania

Several institutions in Lithuania are considering establishing a bank of DNA samples of post-war...

Man dies after COVID-19 shot death not linked to vaccine

A 77-year-old man has died in Lithuania after receiving a COVID-19 vaccine shot but his death is not...

OECD: Lithuania needs to boost municipal borrowing capacity

Lithuania needs to increase the borrowing capacity of its municipalities for public investment to...