Motieka & Audzevicius has advised Gera Dovana on obtaining a limited network exclusion approval from the Bank of Lithuania under the narrowed scope of the PSD2 Revised Payment Services Directive.
Gera Dovana is a Lithuanian gift card and voucher administrator.
According to Motieka & Audzevicius, “the PSD2 has narrowed the scope of the limited network exclusion resulting [in] many business models [potentially requiring] the payment services provider license.”
The firm helped its client obtain the Bank of Lithuania's approval so that Gera Dovana “can rely on the limited network exclusion and administer shopping mall gift cards and vouchers without having a payment services provider license.”
The Motieka & Audzevicius team included Senior Associate Sigita Zavisiene.