Electronic money institutions and electronic payment institutions comprise a significant share of Lithuania’s fintech sector
Bank of Lithuania has found that in 2020, the number of electronic money institutions (EMIs) and payment institutions (PIs) and their income kept growing, while the number of their payment transactions exceeded €50 billion.
According to the unaudited data of Q4 2020, the value of payment transactions performed by EMIs and PIs increased more than three times year on year and amounted to €51.1 billion.
Besides, last year, the institutions earned an income of €138.5 million from licensed activities, an increase of €72.4 million, compared to 2019. As to EMIs, their income amounted to €114.5 million and increased 2.6 times over the year, while that of PIs grew moderately, increasing by €1.3 million over the year to €24 million.
At the end of 2020, the public list of e-money institutions and payment institutions included 132 entities: 80 EMIs and 52 PIs (67 EMIs and 48 PIs at the end of 2019).
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