HomeBusinessThe difference between PSP and EMI licenses in Lithuania

The difference between PSP and EMI licenses in Lithuania



There are two types of PSP and EMI licenses available for payment systems in Lithuania.

Having a PSP or EMI license allows you to operate freely and without hassle throughout the European Union. However, an EMI license includes more features and costs more than a PSP license.

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A modern form of payment

Electronic money assets have the same value as real money, the only difference being that they exist in an electronic system and have no tangible form.

PSP license (Payment Service Provider)

Payment systems can provide online payment services if they have this type of license Payment businesses provide financial intermediation for customer payments, including payment transactions, withdrawals or deposits into payment accounts, and money transfers.

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When applying for a PSP license, the Bank of Lithuania requires a number of supporting documents.

It is also necessary to provide proof of EUR 125,000 share capital, which is necessary to obtain a PSP license.

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EMI (Electronic Money Institution) license

E-Money Institution license gives you the right to open electronic wallets and other payment instruments to store customers’ funds, as well as to issue electronic currencies. Registering a company in Lithuania is the first thing you must do to obtain an EMI license, you must also have an authorized capital of at least 350,000 euros, and provide the Bank of Lithuania with a number of necessary documents.

Bottom line:

Lithuania is the leader among EU fintech-friendly countries in terms of the number of EMI/PSP registered companies, based on 2021 data.


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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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