Bank of Lithuania grants ConnectPay license extension with two new services: PIS & AIS
Licensed as an electronic money institution (EMI) in 2018, ConnectPay is now going to expand its range of services. With the latest meeting of the Board of the Bank of Lithuania, it has been decided to approve ConnectPay’s request to extend its license with the right to provide two additional services: payment initiation (PIS) and account information provision (AIS).
License extension will allow ConnectPay to refurbish its Merchant services from scratch offering highly competitive pricing with less dependencies on third party services.
“This is a big milestone for our business not only in terms of product portfolio but also in trust and support the regulator – Bank of Lithuania – has shown towards our restless intent of growth and innovation”, – says Marius Galdikas, the CEO of ConnectPay.