Yesterday the
Bank of Lithuania restricted the activities of
UAB Payrnet - Railsr, formerly Railsbank . They now temporarily can’t accept new clients. This is already the second restriction of activities among the largest Lithuanian Electronic Money Institutions (EMIs) within a few weeks. A serious note for the beginning of the year from the regulator.
Railsr is a UK-Lithuanian mammoth in providing white-label payment solutions. Their name is widely known throughout EU-UK. They enable companies to issue cards and launch payment platforms, using the licence and payments infrastructure of Railsr. UAB Payrnet has 54 registered companies (“agents”) using these services.
What options are available in Europe, after Railsr is for now off the table?
On the website, PSP Circle publishes the lists with the providers of:
1. Banking-as-a-Service – to launch a payments platform or to add payments to your current services.
2. Card issuing.
