Ten largest institutions in Lithuania gained 59.4% of the sector’s total revenue due to their licensed activities
The Bank of Lithuania revealed that at the end of 2019, a total of 115 electronic money (EMI) and payment (PI) institutions operated in the country has grown by a fifth. Meanwhile, corporate income from licensed activities has increased €41.08 million to €68.6 million.
At the end of 2019, 67 EMIs and 48 MIs operated in Lithuania, ranking the country first in continental Europe, in terms of licensed EMIs, the data unveiled.
According to information, last year, the payment transactions made by EMIs/PIs amounted to 16.5 billion
Meanwhile, companies gained €68.6 million from licensed activities. The data found that 66% of this income was generated by EMIs, whereas 34% – by PIs.