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Walless Helps SumUp Group Obtain Electronic Money License in Lithuania

Walless Helps SumUp Group Obtain Electronic Money License in Lithuania

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Walless has helped the SumUp Group set up a subsidiary in Lithuania and obtain an electronic money license for it.

SumUp Group’s Lithuanian subsidiary, SumUp EU Payments UAB, will offer a card reader app allowing mobile phones and tablets to be used as payment card terminals and to accept customer payments at a minimal cost. According to Walless, SumUp’s proprietary technology and “innovative approach have made it possible for the smallest businesses to start accepting card payments.” SumUp operates in 31 markets including Europe, Brazil, and the US, and the company employs over 1500 people around the world.

The Walless team included Partner Joana Baublyte-Kulviete, Associate Partner Lina Radaviciene, and Senior Associate Simona Kisunaite.

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COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

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COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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