On January 28, 2021, the Central Bank of Lithuania granted PAYMONT a European license to operate an Electronic Money Institution (EMI)- see the license. This license authorizes PAYMONT to maintain payment accounts for clients, perform payment operations (payments and direct debits) or operate a money remittance service. Clients will have a multi-currency account at their disposal, which will also allow them to exchange currencies at a favorable exchange rate. In the first phase, PAYMONT will focus on individuals and legal entities from the Czech Republic, Lithuania and Slovakia.

When granting licenses, the Central Bank of Lithuania follows European Union regulations, including the PSD1 and PSD2 directives, which unify the rules for foreign payment systems within the EU and open it up to new payment services. For more information on Central Bank of Lithuania visit the website.