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Walless Helps Ambr Group Set Up a Subsidiary and Obtain an Electronic Money License

Walless Helps Ambr Group Set Up a Subsidiary and Obtain an Electronic Money License

Lithuania
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Walless has helped the Ambr Group’s set up a Lithuanian subsidiary — Ambr Payments UAB — and obtain an electronic money license from the Bank of Lithuania to issue electronic money and provide payment services.

According to Walless, "Ambr Payments UAB is setting up a B2B business, which targets small and medium enterprises making sales in European online marketplaces. The core services Ambr Payments UAB will offer are going to be based on payment acquiring as well as the issuance of e-money for their clients and providing clients’ possibility to transfer issued e-money to other recipients."

Walless's team included Partner Gediminas Reciunas, Associate Partner Ausra Brazauskiene, Senior Associate Simona Kisunaite, and Associate Akvile Marozaite.

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