Payswix, UAB

History and Licensing

Payswix, UAB was incorporated on 16 August 2017 as GlobalNetint, UAB in Vilnius, Lithuania. It obtained an Electronic Money Institution (EMI) licence from the Bank of Lithuania (No. 21), allowing it to issue electronic money, provide payment accounts, execute payment transactions (SEPA and SWIFT), and offer currency exchange. In early 2022, the company rebranded to Payswix to align with a broader product suite and a more progressive market identity. The rebranding coincided with a recruitment drive to grow the team from roughly 30 to over 45 employees by the end of 2022.

Regulatory Setback

In June 2021, the Bank of Lithuania imposed a €350,000 fine on the then GlobalNetint for multiple violations, including breaches of the Law on Electronic Money and the Law on Prevention of Money Laundering and Terrorist Financing, as well as submitting incorrect information to the regulator. The fine highlighted past compliance weaknesses, but Payswix has since continued operations, expanded its service range, and maintained its EMI licence.

Product Portfolio

The company offers a comprehensive set of payment solutions for B2B clients: - Payswix E-wallet: A multi-currency digital wallet for sending, receiving, and storing funds. - SEPA & SWIFT Payments: Outgoing and incoming wire transfers across the entire SEPA zone and non-EEA territories (37+ countries). - Currency Exchange: In-platform exchange between major fiat currencies at competitive rates. - Prepaid Payment Cards: Virtual and physical prepaid cards for business expenses and payouts. - Credit Card Processing: Online acquiring for e-commerce and iGaming merchants, planned to launch in late 2022. - Dedicated IBANs for Crypto Exchanges: Tailored IBAN accounts for cryptocurrency platforms needing compliant payment rails. - Correspondent Banking: Access to a network of partner banks for high-value or exotic-currency transfers. - Business Financing: A solution listed on the website but not publicly detailed.

Market Position and Competitors

Payswix positions itself as a fast, reliable, and compliant payment gateway for high-volume users such as iGaming operators, crypto exchanges, and international merchants. It competes with other Lithuanian EMIs like Paysera, TransferGo, and Monese, but differentiates through its dedicated crypto-exchange IBANs and planned acquiring capability. The company’s website emphasises “full One Stop Payment Solutions” and 24/7 customer support via phone, email, and in-person meetings.

Leadership and Team

Only one executive is explicitly confirmed from available sources: Liudas Kulikauskas, CEO and Founder. He has been Chief Executive Officer at Payswix since August 2017. Other C-level roles (CTO, COO, CFO, etc.) could not be identified from the research. The company’s LinkedIn page lists 11–50 employees, with a 2022 blog post stating the team at that time was around 30.

Recent Developments

No significant news of funding rounds, further partnerships, or product launches beyond 2022 was found. The company appears to be self-funded through shareholder equity (seven shareholders per Lithuanian registry data). Payswix continues to operate from its Vilnius headquarters and remains listed on the Bank of Lithuania’s register of financial market participants.