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Walless Helps Safe Connect Obtain Payment Institution License in Lithuania

Walless Helps Safe Connect Obtain Payment Institution License in Lithuania

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Walless has helped Safe Connect, UAB, obtain a payment institution license from the Bank of Lithuania, allowing it to to offer payment services indicated in the Republic of Lithuania's Law on Payments.

Safe Connect is wholly owned by Yapily Ltd — a company registered in the United Kingdom with the main shareholders from Italy, Germany, and Guernsey. According to Walless, "after receiving a payment institution license, the company plans to operate similarly to Safe Connect Ltd, an institution licensed in the United Kingdom, by offering open banking and account information and payment initiation services. After Brexit, current Safe Connect Ltd customers based in the United Kingdom will be served by the institution operating in Lithuania.

Walless's team consisted of Partner Joana Baublyte-Kulviete and Associate Partner Lina Radaviciene.

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