Google Gets EU E-Money Licence in Lithuania Amid Brexit Uncertainty

Google Gets EU E-Money Licence in Lithuania Amid Brexit Uncertainty

Google Gets EU E-Money Licence in Lithuania Amid Brexit Uncertainty

Comments Off on Google Gets EU E-Money Licence in Lithuania Amid Brexit Uncertainty

Google Gets EU E-Money Licence in Lithuania Amid Brexit Uncertainty

Lithuania’s central bank said Friday it has granted Google a pan-European e-money licence as the Baltic eurozone state seeks to attract firms concerned that Brexit may bar them from the EU market.

Google Payment Lithuania “will be able to issue electronic money and provide payment services to ensure smooth operation of its marketplaces across Europe”, it said in a statement.

Lithuania, a nation of 2.8 million people, says Brexit has given a boost to its efforts to become a northern European hub for fintech firms.

Britain-based companies fear they may lose “passporting” rights to provide payment or e-money services to customers in the EU after Brexit in March 2019.

“In the light of the upcoming UK-EU split, we are receiving more inquiries than ever before from startups and global enterprises all searching for one thing –- the next major fintech hub,” Mantas Katinas, who heads Invest Lithuania agency, told AFP.

Google has e-money licence in Britain, but its spokesman declined to elaborate if Brexit was a factor to set up a separate subsidiary.

“We are constantly working to develop payments products and support our customers,” Google spokesman Adam Malczak told AFP.

“We have applied for a Payment Licence in Lithuania as part of these efforts, in addition to ongoing discussions as to projects all around Europe,” he added.

Lithuania’s fintech cluster now includes more than 100 licensed companies, according to the central bank.

Among them is British fintech Revolut which secured a European banking licence from authorities in Lithuania earlier this month.

The Google licence “does not have any restrictions in terms of currency issuance”, central bank spokesman Rimantas Pilibaitis told AFP.

admin

Related Posts

WhatsApp Now Has 200 Million Monthly Active Users in India

Comments Off on WhatsApp Now Has 200 Million Monthly Active Users in India

Chrome 71 to Start Showing Warning Alerts on Unclear Billing Websites

Comments Off on Chrome 71 to Start Showing Warning Alerts on Unclear Billing Websites

Mozilla Said to Be Working on New Android Browser Codenamed ‘Fenix’

Comments Off on Mozilla Said to Be Working on New Android Browser Codenamed ‘Fenix’

Facebook Messenger Kids App Sees US FTC Complaint Filed by Child Experts

Comments Off on Facebook Messenger Kids App Sees US FTC Complaint Filed by Child Experts

LinkedIn’s Salary Feature Comes to India, Gives a Breakdown Based on Title, Location

Comments Off on LinkedIn’s Salary Feature Comes to India, Gives a Breakdown Based on Title, Location

Google Maps Update Brings Hashtag Support in Reviews for Easier Search

Comments Off on Google Maps Update Brings Hashtag Support in Reviews for Easier Search

Google Maps Update Brings Hashtag Support in Reviews for Easier Search

Comments Off on Google Maps Update Brings Hashtag Support in Reviews for Easier Search

WhatsApp, DEF Train Community Leaders to Tackle Fake News

Comments Off on WhatsApp, DEF Train Community Leaders to Tackle Fake News

Broadcom to Acquire Software Company CA Technologies for $18.9 Billion

Comments Off on Broadcom to Acquire Software Company CA Technologies for $18.9 Billion

WhatsApp Animated Stickers Coming to Android, iPhone, Web

Comments Off on WhatsApp Animated Stickers Coming to Android, iPhone, Web

Google Assistant Found to Get Support for 14 New Languages in Beta, Including Tamil, Telugu

Comments Off on Google Assistant Found to Get Support for 14 New Languages in Beta, Including Tamil, Telugu

Uber, Ola Agree to Cap Surge Pricing at 45 Percent of Base Fare in West Bengal

Comments Off on Uber, Ola Agree to Cap Surge Pricing at 45 Percent of Base Fare in West Bengal

Create Account



Log In Your Account