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 to Soon Get Fingerprint Authentication on Android: Report

Comments Off on WhatsApp to Soon Get Fingerprint Authentication on Android: Report

WhatsApp for Android Gets Picture-in-Picture Feature for All Users

Comments Off on WhatsApp for Android Gets Picture-in-Picture Feature for All Users

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

Airtel’s Wynk Music Launches ‘Your Year in Music 2018’, Shows What You Most Listened to This Year Indo-Asian News Service, 31 December 2018

Comments Off on Airtel’s Wynk Music Launches ‘Your Year in Music 2018’, Shows What You Most Listened to This Year Indo-Asian News Service, 31 December 2018

Uber Says Will Resume Self-Driving Car Testing in Pennsylvania

Comments Off on Uber Says Will Resume Self-Driving Car Testing in Pennsylvania

WhatsApp Animated Stickers Coming to Android, iPhone, Web

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

Zomato Defends Using Halal Tag as People Leave 1-Star Ratings for the App on Google Play, App Store

Comments Off on Zomato Defends Using Halal Tag as People Leave 1-Star Ratings for the App on Google Play, App Store

WhatsApp Names Ezetap Co-Founder Abhijit Bose as Its First India Head

Comments Off on WhatsApp Names Ezetap Co-Founder Abhijit Bose as Its First India Head

Uber Said to Be Under US Federal Investigation Over Alleged Gender Discrimination

Comments Off on Uber Said to Be Under US Federal Investigation Over Alleged Gender Discrimination

LinkedIn Now Lets You Send Voice Messages

Comments Off on LinkedIn Now Lets You Send Voice Messages

YouTube Influencers Rarely Disclose Marketing Relationships: Study

Comments Off on YouTube Influencers Rarely Disclose Marketing Relationships: Study

Create Account



Log In Your Account