aA
UK-based payment service provider Paymaster24 has established a company in Lithuania.
UK-based payment service provider founds company in Lithuania
© DELFI / Karolina Pansevič

Settek, which has recently obtained a conditional license of an electronic money institution from the Bank of Lithuania, was founded in Vilnius on December 30 with Diana Lapkovska, a Latvian national, as its CEO, according to the Center of Registers.

The new company is wholly-owned by UK-registered Paymaster24 and has an authorized share capital of 525,000 euros.

Settek told the Center of Registers that it planned to operate as an electronic money institution.

Paymaster24 is an EU member state's company providing services in Lithuania without a branch. It is licensed by the UK Financial Services Authority.

Founded in 2013, Paymaster24 says on its website that it provides payment services to international clients.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Mandatory COVID-19 testing for certain professions comes into force (2)

Mandatory testing for COVID-19 is coming into force in Lithuania on Monday as the country battles to...

Economy minister to visit Kazakhstan in early September

Economy and Innovation Minister Ausrine Armonaite is planning to travel to Kazakhstan in early...

Expert: have no illusion about Ukraine after Nord Stream 2 is completed

A Lithuanian energy experts has doubt about Berlin's promise to help maintain Russian gas transit via...

Businesses need more third-country workers

Lithuanian businesses lack workforce and their representatives have asked the prime minister to allow...

Presidential adviser Krepsta joins central bank's board

Lithuanian President Gitanas Nauseda has appointed his adviser Simonas Krepsta a board member of the...

Top news

Foreign Minister: new sanctions irrelevant if Minsk stops illegal migration (4)

New EU-level sanctions against Minsk have been proposed, by they will be irrelevant if Minsk stops...

LFGU kicks Tomilinas out of party (1)

The Council of the opposition Lithuanian Farmers and Greens Union has on Friday eliminated MP Tomas...

346 new COVID-19 cases

On Thursday, 346 new COVID-19 cases were detected in Lithuania. Since the beginning of the pandemic,...

Moderna coronavirus vaccine approved for teenagers

Moderna's COVID-19 vaccine has been approved for use in teenagers in Lithuania, the Health Ministry...

Several hundred people stage protests in Vilnius against migrants in Dieveniskes (1)

Around 400 people have on Thursday afternoon gathered outside the government office in central Vilnius...